How Devon Energy Stock Reacted to Its 4Q17 Earnings



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.

Article continues below advertisement

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.


More From Market Realist