Devon Energy Corp Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Devon Energy Corp (NYSE:DVN) will unveil its latest earnings on Wednesday, February 15, 2012. Devon Energy explores, develops and transports oil, gas, and NGLs.

Devon Energy Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of $1.46 per share, a decline of 7% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from $1.43. Between one and three months ago, the average estimate moved up. It has risen from $1.45 during the last month. Analysts are projecting profit to rise by 5.9% compared to last year’s $6.04.

Past Earnings Performance: Last quarter, the company beat estimates by 6 cents, coming in at net income of $1.54 a share versus the estimate of profit of $1.48 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts predict a rise of 24.3% in revenue from the year-earlier quarter to $2.66 billion.

Analyst Ratings: Analysts are bullish on this stock, with 17 analysts rating it as a buy, none rating it as a sell and four rating it as a hold.

A Look Back: In the third quarter, profit fell 50.3% to $1.04 billion ($2.50 a share) from $2.09 billion ($4.79 a share) the year earlier, but exceeded analyst expectations. Revenue rose 48.8% to $3.5 billion from $2.35 billion.

Key Stats:

The decrease in profit in the third quarter came after net income rose in the previous quarter. In the second quarter, net income rose more than threefold.

The company’s revenue has risen for two straight quarters. In the second quarter, the figure rose 44.3%.

Stock Price Performance: Between February 3, 2012 and February 9, 2012, the stock price rose $2.77 (4.4%), from $63.46 to $66.23. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 16, 2011, when shares rose for six straight days, increasing 4.9% (+$3.09) over that span. It saw one of its worst periods between November 15, 2011 and November 25, 2011 when shares fell for eight straight days, dropping 12.5% (-$8.37) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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