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Fly News Breaks for January 9, 2020
DVN
Jan 9, 2020 | 05:33 EDT
Barclays analyst Jeanine Wai upgraded Devon Energy to Overweight from Equal Weight with a $37 price target.
News For DVN From the Last 2 Days
DVN
Feb 18, 2020 | 19:05 EST
UP AFTER EARNINGS: Quad/Graphics (QUAD) up 25.0%... ShotSpotter (SSTI) up 20.1%... Enphase Energy (ENPH) up 11.8%... Herbalife (HLF) up 5.8%... SciPlay (SCPL) up 4.7%... La-Z-Boy (LZB) up 4.6%... Retail Properties of America (RPAI) up 3.0%... Xperi (XPER) up 2.5%... Diamondback Energy (FANG) up 1.9%... Devon Energy (DVN) up 1.9%... TriPointe Group (TPH) up 1.9%... TiVo (TIVO) up 1.5%. ALSO HIGHER: Bed Bath Beyond (BBBY) up 4.0% after guiding FY20 capital allocation. DOWN AFTER EARNINGS: Groupon (GRPN) down 24.9%... Knoll (KNL) down 13.6%... Scientific Games (SGMS) down 10.5%... Blue Apron (APRN) down 9.8%... Amedisys (AMED) down 9.0%... Brookdale Senior Living (BKD) down 6.4%... 10X Genomics (TXG) down 5.1%... LendingClub (LC) down 2.8%... Palomar (PLMR) down 2.8%... bluebird bio (BLUE) down 2.0%... HealthStream (HSTM) down 1.4%... KAR Auction Services (KAR) down 1.4%. Movers as of 18:30ET.
DVN
Feb 18, 2020 | 16:17 EST
Led by the exceptionally strong well performance Devon is experiencing in the Delaware Basin, the company is now raising its full-year 2020 oil growth rate to range of 7.5 percent to 9 percent compared to 2019 (on a retained asset basis). In the first-quarter 2020, oil production is projected to average in the range of 158,000 to 163,000 barrels per day
DVN
Feb 18, 2020 | 16:16 EST
Devon's estimated proved reserves were 757 million Boe at year-end 2019, with proved undeveloped reserves accounting for only 22 percent of the total. The company's drilling programs successfully added 160 million Boe of reserves through extensions and discoveries in 2019. The capital costs incurred to deliver these reserve additions totaled $1.8 billion, equating to an attractive finding and development cost of $11 per Boe.
DVN
Feb 18, 2020 | 16:10 EST
Devon Energy announced that its board of directors has approved a 22 percent increase in its quarterly common stock dividend. The new quarterly dividend rate will be $0.11 per share, compared to the prior quarterly dividend of $0.09 per share. The increased dividend is payable on June 30, 2020, to shareholders of record as of the close of business on June 15, 2020. "The 22 percent increase in our quarterly dividend is the latest example of Devon's commitment to return cash to shareholders and reflects the confidence we have in our underlying business and financial strength," said Dave Hager, president and CEO.