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OKLAHOMA CITY (AP) _ Devon Energy Corp. (DVN) on Tuesday reported a first-quarter loss of $3.6 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had a loss of $8.88. Earnings, adjusted for asset impairment costs, came to 22 cents per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The oil and gas exploration company posted revenue of $3.27 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.86 billion.
Devon Energy shares have risen roughly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1.5 percent. In the final minutes of trading on Tuesday, shares hit $66.65, a decrease of slightly more than 5 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DVN at http://www.zacks.com/ap/DVN
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Keywords: Devon Energy, Earnings Report
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Devon Energy is a and oil producing company based in United states of america. Devon Energy holds various exploration projects in Canada. Its main exploration property is JACKFISH OIL SANDS PROJECT in Canada. Devon Energy is listed in United States of America. Its market capitalisation is US$ 24.5 billions as of today (€ 21.5 billions). Its stock quote reached its lowest recent point on August 18, 1995 at US$ 10.00, and its highest recent level on February 22, 2008 at US$ 99.19. Devon Energy has 525 000 000 shares outstanding. |