Devon Energy’s 4Q17 earnings
Devon Energy (DVN) announced its 4Q17 earnings on February 20, 2018, after the market closed. In 4Q17, Devon Energy reported revenues of ~$4.0 billion, which was higher than the Wall Street analyst consensus of ~$3.5 billion.
In 4Q17, DVN reported adjusted earnings per share (or EPS) of $0.38, missing the Wall Street analyst consensus for EPS of $0.63.
Devon Energy’s stock reaction to 4Q17 earnings
On February 21, 2018, in reaction to its 4Q17 earnings, DVN’s stock price fell more than 10.0%. As the day progressed, DVN tried to recover its losses but closed the day with a loss of ~12.0%.
DVN was among the negatively performing upstream companies in fiscal 2017, posting an ~-9.0% return. The company underperformed the Energy Select Sector SPDR ETF (XLE), which delivered ~-3.0% in fiscal 2017.
To learn more about best and worst upstream stock performers in 2017, please read The Best and Worst Upstream Companies by Year-to-Date Returns.