New Zealand markets close in 33 minutes

  • NZX 50

    11,277.88
    -40.86 (-0.36%)
     

  • NZD/USD

    0.5936
    +0.0004 (+0.07%)
     

  • NZD/EUR

    0.5569
    +0.0010 (+0.18%)
     

  • ALL ORDS

    7,244.70
    -21.90 (-0.30%)
     

  • ASX 200

    7,044.70
    -20.50 (-0.29%)
     

  • OIL

    90.34
    +0.71 (+0.79%)
     

  • GOLD

    1,942.90
    +3.30 (+0.17%)
     

  • NASDAQ

    14,694.24
    -275.68 (-1.84%)
     

  • FTSE

    7,678.62
    -53.03 (-0.69%)
     

  • Dow Jones

    34,070.42
    -370.46 (-1.08%)
     

  • DAX

    15,571.86
    -209.73 (-1.33%)
     

  • Hang Seng

    17,868.68
    +213.27 (+1.21%)
     

  • NIKKEI 225

    32,513.10
    -57.93 (-0.18%)
     

  • NZD/JPY

    87.9110
    +0.4150 (+0.47%)
     

Devon Energy (DVN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2023, Devon Energy (DVN) reported revenue of $3.82 billion, up 0.3% over the same period last year. EPS came in at $1.46, compared to $1.88 in the year-ago quarter.

The reported revenue represents a surprise of -2.65% over the Zacks Consensus Estimate of $3.93 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +5.04%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Devon Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average Daily Production - Total Gas: 1030 MMcf/D compared to the 1024.61 MMcf/D average estimate based on six analysts.

  • Average Daily Production - Total Oil: 320 MBBL/D versus the six-analyst average estimate of 317.58 MBBL/D.

  • Production - Total oil equivalent per day: 641 MBOE/D versus 635.31 MBOE/D estimated by six analysts on average.

  • Average Daily Production - Total NGL: 149 MBBL/D compared to the 146.78 MBBL/D average estimate based on six analysts.

  • Average price per mcf - Gas (Realized price, including cash settlements): $2.47 versus $2.29 estimated by three analysts on average.

  • Average price per bbl - Oil (Realized price, including cash settlements): $74.22 versus the three-analyst average estimate of $74.62.

  • Average price per bbl - NGL (Realized price, including cash settlements): $24.12 compared to the $22.84 average estimate based on three analysts.

  • Revenues- Marketing and midstream revenues: $1.08 billion versus the four-analyst average estimate of $1.38 billion.

View all Key Company Metrics for Devon Energy here>>>

Shares of Devon Energy have returned -4.8% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Devon Energy Corporation (DVN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research