Devon Energy (DVN) Tops Q4 EPS by 6c, Lowers Dividend, Cuts Workforce
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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 9:01 AM EST
Deutsche 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
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 4:17 PM EST
Devon 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
