Devon Energy's Q4 earnings beat estimates by 16%, showing strong performance and value

From Zacks Investment Research.: 2025-02-24 13:08:16

Devon Energy Corporation (DVN) reported better-than-expected fourth-quarter 2024 earnings per share, exceeding the Zacks Consensus Estimate by 16%. The company’s net production in the quarter totaled 848,000 Boe/d, with strong performance from various basins boosting volumes. Devon repurchased shares, paid dividends, and increased its quarterly dividend rate. The company’s 2025 and 2026 earnings per share estimates have increased in the past 60 days. Devon’s multi-basin portfolio and focus on high-margin assets contribute to its strong performance. The company’s shares outperform its industry, and its return on equity is higher than the industry average. Devon’s shares are trading at a discount, with a Value Score of B. Investors may consider adding this Zacks Rank #2 (Buy) stock to their portfolio.



Read more at Zacks Investment Research.: Devon’s Q4 Earnings Beat Estimates: Right Time to Buy the Stock? – February 24, 2025