Revenue Update on Devon Energy Corp(NYSE:DVN)

Devon Energy Corp(NYSE:DVN) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $2.808B. Analysts estimated a revenue of $2.820B. The revenues were -0.43% below the estimates. Earnings per share were $0.25. The reported EPS was above estimates by 25%. Analysts had estimated an EPS of $0.2.

In a different note, On Jan 19, 2017, UBS said it Upgrades its rating on Devon Energy Corp. The shares have been rated ‘Neutral’ by the firm. On Jan 17, 2017, Jefferies said it Downgrades its rating on Devon Energy Corp. In the research note, the firm Raises the price-target to $48 per share. The shares have been rated ‘Hold’ by the firm. On Jan 11, 2017, Wells Fargo said it Downgrades its rating on Devon Energy Corp. The shares have been rated ‘Market Perform’ by the firm.

Devon Energy Corp (DVN) shares turned negative on Wednesdays trading session with the shares closing down -1.3 points or -2.89% at a volume of 48,05,784. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.97. The peak price level was also seen at $44.97 while the days lowest was $43.71. Finally the shares closed at $43.76. The 52-week high of the shares is $50.69 while the 52-week low is $18.22. According to the latest information available, the market cap of the company is $22,956 M.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, Robert H. Henry (director) sold 7,100 shares at $37.43 per share price.Also, On Jan 6, 2016, Barbara M Baumann (director) purchased 8,200 shares at $30.44 per share price.On Dec 22, 2015, John E Bethancourt (director) purchased 10,000 shares at $28.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration development and production of oil natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S. Canada and EnLink. The Company’s projects in North America include Anadarko Basin Barnett Shale Mississippian-Woodford Trend Permian Basin Rockies and Canadian Heavy Oil. EnLink’s operations consist of midstream assets and operations located across the United States. In Canada the company has two main projects Jackfish and Pike located in Alberta Canada. In addition its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

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