Devon Energy Corporation (NYSE:DVN) is reporting third quarter financial results on Thursday 29th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, DVN is expected to report 3Q20 loss of $ 0.1 per share from revenue of $ 1008.29 million.
For the full year, analysts anticipate top line of $ 4308.45 million, while looking forward to loss of $ 0.16 per share bottom line.
Previous Quarter Performance
Devon Energy Corporation unwinded loss for the second quarter of $ 0.18 per share, from the revenue of $ 394.00 million. The quarterly revenues shrunk 79.49 percent compared with the same quarter last year. Street analysts expected Devon Energy Corporation to report loss of $ 0.26 per share on revenue of $ 1115.62 million for the second quarter. The bottom line results beat street analysts by $ 0.08 or 30.77 percent, at the same time, top line results fell short of analysts by $ 721.62 million or 64.68 percent.
Stock Performance
Shares of Devon Energy Corporation traded low $ -0.59 or -6.79 percent on Wednesday, reaching $ 8.10 with volume of 10.74 million shares. Devon Energy Corporation has traded high as $ 8.45 and has cracked $ 8.01 on the downward trend
According to the previous trading day, closing price of $ 8.10, representing a 84.89 % increase from the 52 week low of $ 4.70 and a 67.79 % decrease over the 52 week high of $ 26.98.
The company has a market capital of $ 3.10 billion and is part of the Energy sector and Oil & Gas E&P industry.
Recent Stock Dividend Announcement
On August 4, 2020, the board of directors authorized special dividend of $ 0.26 per share to holders of record as of the close of business on August 14, 2020, with payment date of October 1, 2020 and ex-dividend date on August 13, 2020.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
