Devon Energy Q4 Revenue Beats Estimates, Stock Jumps 7.3% Post-Report
DVN sits 69% above its 52-week low of $26.76.
Summary
Devon Energy reported Q4 revenue of $4.06 billion, which, despite being down 10.6% year-over-year, significantly beat analyst estimates by 10.7%. The company also confirmed that its EBITDA met guidance for the quarter. Following the release of these results, Devon Energy's stock price reacted positively, rising approximately 7.3%. Separately, UBS slightly lowered its price target for DVN from $61.00 to $60.00, a minor adjustment that is largely overshadowed by the positive market reaction to the earnings beat.
At the time of this announcement, DVN was trading at $45.28 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $28.1B. The 52-week trading range was $26.76 to $52.71. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.