| Devon Energy reports 2Q loss | |
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OKLAHOMA CITY (AP) _ Devon Energy Corp. (DVN) on Tuesday reported a loss of $1.57 billion in its second quarter.
On a per-share basis, the Oklahoma City-based company said it had a loss of $3.04. Earnings, adjusted for non-recurring costs, came to 6 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The oil and gas exploration company posted revenue of $2.49 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.29 billion.
Devon Energy shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5.5 percent. In the final minutes of trading on Tuesday, shares hit $36.12, a fall of 25 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DVN at http://www.zacks.com/ap/DVN
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Keywords: Devon Energy, Earnings Report
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Devon Energy Corporation
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CODE : DVN |
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ISIN : US25179M1036 |
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ProfileMarket
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Asset profileContact Cpy |
Devon Energy is a and oil producing company based in United states of america. Devon Energy holds various exploration projects in Canada. Its main exploration property is JACKFISH OIL SANDS PROJECT in Canada. Devon Energy is listed in United States of America. Its market capitalisation is US$ 20.5 billions as of today (€ 19.3 billions). Its stock quote reached its lowest recent point on August 18, 1995 at US$ 10.00, and its highest recent level on February 22, 2008 at US$ 99.19. Devon Energy has 525 000 000 shares outstanding. |