Devon Energy (DVN) Q4 Results
Posted: Tue Feb 14, 2017 7:02 pm
Earnings Beat Wall Street Consensus by 20 Percent
Devon’s reported net earnings totaled $331 million or $0.63 per diluted share in the fourth quarter. Adjusting for items securities analysts typically exclude from their published estimates, the company’s core earnings were $131 million or $0.25 per diluted share in the fourth quarter. This strong earnings result exceeded analyst consensus estimates by 20 percent.
My forecast had Q4 Adjusted Earnings per share of $0.17. - Dan
The company’s significantly improved profitability in the fourth quarter was attributable to higher commodity prices and an improved cost structure. These factors also strengthened Devon’s operating cash flow to $536 million in the fourth quarter. Combined with proceeds received from asset sales, the company’s total cash inflows for the quarter reached $1.8 billion.
Year-end reserve report is "good" but not "great". Proven reserves increased by 3%.
Devon has a lot of moving parts. It is much more complex than most of the Sweet 16. I will focus on it on Wednesday.
My valuation of $64 will probably hold or go up.
Devon’s reported net earnings totaled $331 million or $0.63 per diluted share in the fourth quarter. Adjusting for items securities analysts typically exclude from their published estimates, the company’s core earnings were $131 million or $0.25 per diluted share in the fourth quarter. This strong earnings result exceeded analyst consensus estimates by 20 percent.
My forecast had Q4 Adjusted Earnings per share of $0.17. - Dan
The company’s significantly improved profitability in the fourth quarter was attributable to higher commodity prices and an improved cost structure. These factors also strengthened Devon’s operating cash flow to $536 million in the fourth quarter. Combined with proceeds received from asset sales, the company’s total cash inflows for the quarter reached $1.8 billion.
Year-end reserve report is "good" but not "great". Proven reserves increased by 3%.
Devon has a lot of moving parts. It is much more complex than most of the Sweet 16. I will focus on it on Wednesday.
My valuation of $64 will probably hold or go up.