Devon Energy (DVN) Tops Q2 EPS by 36c

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Go back to Devon Energy (DVN) Tops Q2 EPS by 36c

Devon Energy (DVN) PT Cut to $53 at UBS Following Cost-Driven EPS Beat; Sees Material Reduction in 2016 Capex vs Consensus

August 5, 2015 12:24 PM EDT

UBS analyst William Featherston reiterated an Neutral rating on Devon Energy (NYSE: DVN) while lowering his price target to $53.00 (from $70.00) following Q2 results which beat the street on lower cost. The firm sees a material reduction in 2016 Capex versus the consensus.

Featherston commented, "Clean 2Q EPS/CFPS of $0.78/$2.95 were comfortably above consensus & UBSe of $0.43/$2.72 &... More