Devon Energy Reports Fourth-Quarter and Full-Year 2015 Results; Provides 2016 Capital and Production Outlook
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Wolfe Research Downgrades Devon Energy (DVN) to Peerperform
February 18, 2016 2:11 PM ESTWolfe Research downgraded Devon Energy (NYSE: DVN) from Outperform to Peerperform.
For an analyst ratings summary and ratings history on Devon Energy click here. For more ratings news on Devon Energy click here.
Shares of Devon Energy closed at $20.33 yesterday.
... MoreDevon Energy (DVN) Made Right Move by Prioritizing Balance Sheet, Says Deutsche Bank
February 17, 2016 9:01 AM ESTDeutsche Bank maintained a Buy rating on Devon Energy (NYSE: DVN) with a price target of $48. Yesterday Devon Energy cut its dividend and announced capex changes. Analyst Ryan Todd thinks the company is taking the right steps by prioritizing its balance sheet.... More
Devon Energy (DVN) Slashes 2016 CapEx & Dividend - UBS
February 17, 2016 8:37 AM ESTUBS analyst, William Featherston, cut his price target to $19 from $24 as Devon Energy (NYSE: DVN) slashed its 2016 capex budget by ~70% Y/Y.
Devon Energy provided a 2016 capex budget of $1.17-$1.45bn (excluding EnLink), down ~70% YoY, below consensus of ~$3bn. E&P capex of $0.9-$1.1bn is down ~75% YoY & below prior guidance of $2.5bn. DVN's top priority is to protect its balance sheet by keeping capex in line with operating cash flow plus EnLink distributions & proceeds from the sale of Access.
DVN is also cutting its... More
Devon Energy (DVN) Tops Q4 EPS by 6c, Lowers Dividend, Cuts Workforce
February 16, 2016 4:21 PM ESTDevon Energy (NYSE: DVN) reported Q4 EPS of $0.77, $0.06 better than the analyst estimate of $0.71.
More:
Devon Energy Corp. (NYSE: DVN) today announced core earnings of $319 million, or $0.77 per diluted share, for the fourth quarter of 2015. On a reported basis, due to non-cash, asset-impairment charges, the Company had a net loss of $4.5 billion, or $11.12 per diluted share, for the fourth quarter of 2015.
Devons operating cash flow totaled $1.1 billion in the quarter, a 12 percent increase compared to the fourth quarter of 2014. For the full-year 2015, operating cash... More
Devon Energy (DVN) Lowers Quarterly Dividend 75% to $0.06; 1.1% Yield
February 16, 2016 4:17 PM ESTDevon Energy (NYSE: DVN) declared a quarterly dividend of $0.06 per share, or $0.24 annualized. This is a 75% decrease from the prior dividend of $0.24.
The dividend will be payable on June 30, 2016, to stockholders of record on June 15, 2016, with an ex-dividend date of June 13,... More
