$47.350
+0.232 (+0.49%)At close
DVN News
DVN Events
Devon Energy Reports Q2 Revenue of $7.42B
Reports Q2 revenue $7.42B vs. $4.28B last year. "Devon's first quarter as a combined company demonstrated the full power of this platform, with results that outperformed across every major value driver. We delivered 503,000 barrels of oil per day at the top end of guidance, delivered capital expenditures 2 percent below expectations and generated $1.7 billion of adjusted free cash flow, all while moving at full speed on integration. These results reflect the talent and commitment of our newly combined teams, which have not missed a beat in the field. Since merger close, we have moved with speed and intention. We returned more than $1 billion through our dividend, share repurchases and debt repayment, strengthened an already premier Delaware Basin position with a once-in-a-generation federal lease sale, and advanced synergy capture with more than 350 initiatives underway. Our confidence in delivering at least $1 billion in synergies continues to increase. Looking ahead, our priorities are clear: continuing integration and operational excellence, delivering on our synergy commitments, moving decisively through our portfolio review and returning meaningful capital to shareholders. With the scale and quality of this portfolio, a fortress balance sheet, and a peer-leading free cash flow outlook, Devon is an energy powerhouse, built to deliver differentiated returns to our owners through all phases of the commodity cycle," said Clay Gaspar, president and CEO.
Devon Energy Maintains Full-Year 2026 Guidance
Devon Energy stated: "After a strong second-quarter, the company is demonstrating the operational and financial performance which underpin its full-year 2026 guidance, which remains unchanged from June. In the third quarter of 2026, total production is expected to average between 1,660,000 and 1,690,000 Boe per day and oil production is expected to average between 550,000 and 560,000 barrels per day." Capital spending in the third quarter is expected to be between $1.4B-$1.5B.
Energy Stocks Drop, Nvidia Falls 5% on AI Investment
Headline-driven risk regarding the uncertainty in the standoff between the US and Iran over the Strait of Hormuz passage, as well as the magnitude of AI investment being made by Tech megacaps, continues to play out in Monday's trading. Energy was the worst performing sector in the S&P 500 as the US has paused its military activity in Iran with a new focus on diplomacy. Industry giants such as Chevronand Exxon Mobilwere down by 1%-2% while Devon Energyfell over 4%. In the Tech space, investors sneered at Nvidiafor announcing $750B in total spend between its $250 backstop for OpenAI and a $500B joint investment with South Korea's SK Group, sending the stock down by 5% to three-week lows. Other semiconductors and semiconductor equipment names traded lower in sympathy while the "anti-AI trade" - enterprise software - was generally strong. Traders also piled into the Consumer Defensive sector as Walmartand Costcocontinued their bounce for the second day in a row.In the opening hour of the evening session S&P e-minis are trading flat while the NASDAQ 100 contract is down 0.2%. WTI crude oil remains under pressure, trading closer to $82% per barrel. Sentiment swings and wide trading ranges could remain a theme this week with more hyperscalers on deck for quarterly earnings as well as a Federal Reserve policy decision this coming Wednesday.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -OPKO Health, Inc.up 8.9%Celesticaup 8.1%Applied Digitalup 5.6%Happenup 4.0%Cadence Design Systemsup 3.2%F5, Inc.up 1.0%DOWN AFTER EARNINGS -Universal Health Servicesdown 4.7%Noble Corporationdown 4.4%Amkor Technologydown 3.5%Kforcedown 2.9%Cincinnati Financialdown 2.4%ALSO LOWER -Aehr Test Systemsdown 4.6% after equity offering
Devon Energy Plans to Sell Eagle Ford and Powder River Shale Assets for Over $4 Billion
Devon Energy is exploring a sale of its Eagle Ford and Powder River shale assets, which together could fetch more than $4 billion, according to Bloomberg's David Carnevali and David Wethe, citing people familiar with the matter. Devon aims to announce a strategic review of the assets located in South Texas and Wyoming when it reports earnings in early August, one source is reported to have said. Following its $25B acquisition of Coterra Energy, Devon has been pushed by investors to sell assets and focus on its largest business in the Permian Basin of West Texas and New Mexico, the report noted.
Federal Reserve Keeps Rates Unchanged, Markets Close Lower
The major averages closed lower after the Federal Reserve, now under new chair Kevin Warsh, voted 12-0 to keep the target range for the federal funds rate unchanged at 3.5%-3.75%. Of note, in the committee's quarterly summary of economic projections, half of the respondents indicated they expect at least one rate hike this year, with some committee members projecting two or three. In a dramatically shorter post-meeting statement, the Fed said that inflation remains elevated, but committed that the committee will "deliver price stability."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Jabilprovided areport for Q3La-Z-Boyreportedand announced a new $300M share repurchase programCarMaxreportedDiana Shippingraised itsGenco Shippingto $27.34 per shareThe U.S. Federal Reserve kept the target for theat 3.50%-3.75%2. WALL STREET CALLS:RothschildLyftto Buy on autonomous vehicle upsideLeidosto Neutral at BofA on increasing healthcare pressureCiti highlights AI ramp incoverage of Figmawith a BuyCarter'sto Equal Weight from Underweight at Wells FargoResMedto Equal Weight at Morgan Stanley3. AROUND THE WEB:Activist investor Toms Capital is targeting Devon Energy, FT reportsNew DiageoCEO Dave Lewis has launched a "significant" restructuring efforts, FT saysMetaCTO Andrew Bosworth acknowledged that the company handled its recent AI reorganization poorly, describing the rollout as "atrocious" in an internal memo, Wired saysPayPalis winding down its decade-old venture investing arm as part of a broader corporate restructuring, with the team shrinking from more than 10 employees in late 2025 to just two and public visibility into the unit's staff largely removed, Fortune reportsOraclesaid on Tuesday that details in a Business Insider report on the collapse of its discussions with Microsoftover a potential leasing deal were inaccurate, according to Reuters4. MOVERS:uniQuregained in New York after announcingfor AMT-130SharonAIwas higher afterBitGoincreased after announcing aLionsgate Studioswas lower in New York afterNetflixhas no plans to pursue a takeover of the companyCME Groupfell after announcingand Lynne Fitzpatrick will succeed5. EARNINGS/GUIDANCE:Deswell Industries, with EPS lower year-over-yearSmith & Wesson Brandson June 17, 2026Accentureon June 18, 2026Krogeron June 18, 2026Safe Bulkerson June 18, 2026INDEXES:The Dow fell 507.12, or 0.98%, to 51,492.55, the Nasdaq lost 354.69, or 1.34%, to 26,021.66, and the S&P 500 declined 91.25, or 1.21%, to 7,420.10.
Esta página es solo para investigación y no constituye asesoramiento de inversión. Los modelos pueden equivocarse. El rendimiento pasado no garantiza resultados futuros.