Devon Energy (DVN) Lowers Quarterly Dividend 75% to $0.06; 1.1% Yield
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Go back to Devon Energy (DVN) Lowers Quarterly Dividend 75% to $0.06; 1.1% Yield
February 18, 2016 2:11 PM EST
Wolfe 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.
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February 17, 2016 8:37 AM EST
UBS 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
February 16, 2016 4:21 PM EST
Devon Energy (NYSE: DVN) reported Q4 EPS of $0.77, $0.06 better than the analyst estimate of $0.71.
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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
