Devon Energy (NYSE:DVN) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Devon Energy announced earnings per share of $0.06 on revenue of $2.09B. Analysts polled by anticipated EPS of $-0.24 on revenue of $1.13B. That with comparison to EPS of $0.36 on revenue of $1.5B in the same period a year before. Devon Energy had reported EPS of $0.33 on revenue of $1.59B in the previous quarter. Analysts are expecting EPS of $-0.39 and revenue of $982.65M in the upcoming quarter.
Devon Energy shares are down 56% from the beginning of the year , still down 64.94% from its 52 week high of $31.89 set on May 8, 2019. They are under-performing the S&P 500 which is down 11.6% year to date.
Devon Energy shares gained 5.19% in after-hours trade following the report.
Devon Energy follows other major Energy sector earnings this month
Devon Energy's report follows an earnings beat by Exxon Mobil on Friday, who reported EPS of $0.53 on revenue of $56.16B, compared to forecasts EPS of $0.01 on revenue of $53.53B.
Chevron had beat expectations on Friday with first quarter EPS of $1.29 on revenue of $31.5B, compared to forecast for EPS of $0.65 on revenue of $29.14B.
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