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Devon Energy Corporation (DVN)

  • Apr. 15, 2010, 3:21 PM
    "We believe that the market is set up for another round of very strong reports 
relative to expectations throughout the remainder of 1Q earnings season,” UBS writes, citing fondness for "cyclical" names which are supposed to bounce more as the economy gains steam. Its "best ideas": Amazon (AMZN), Apple (AAPL), Devon Energy (DVN), Ford (F) and Union Pacific (UNP).
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  • Apr. 15, 2010, 7:56 AM
    Apache (APA -3.5%) will acquire Mariner Energy (ME +38.7%) for $2.7B, bringing the oil-and-gas explorer deepwater exposure. Earlier this week, Apache agreed to buy assets from Devon Energy (DVN) for $1.05B. (PR)
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  • Apr. 12, 2010, 3:22 PM
    Apache (APA +0.6%) will buy Devon Energy's (DVN +0.1%) oil and gas assets on the Gulf of Mexico Shelf for $1.05B. Apache estimates net proved and probable reserves of 83M barrels of oil equivalent at year-end 2009.
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  • Apr. 9, 2010, 6:36 PM
    Apache (APA +0.4%) is reportedly in final talks to buy Devon Energy's (DVN +2%) shallow Gulf of Mexico assets in a deal that could come next week and reach $750M. Devon wants to keep focusing on North American onshore assets, while Apache is one of the few companies interested in the outer shelf's relatively mature oilfields.
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  • Mar. 11, 2010, 7:27 AM
    BP (BP +0.2%) signs a deal to pay Devon Energy (DVN +2.3%) $7B for assets in several countries. Devon and BP will also form an oil-sands JV in Canada. The deal helps Devon with its plan to divest assets and reposition itself, and gives BP its first taste of Brazil. (PR)
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  • Mar. 10, 2010, 4:25 PM
    BP (BP +0.3%) is the leading candidate to buy a large swath of oil assets from Devon Energy (DVN +1.4%) in a $5B+ deal that would vault BP into the hot new oil region off Brazil, sources say.
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  • Feb. 19, 2010, 8:09 AM
    CNOOC (CEO) and Sinopec (SNP) may bid as much as $3B for a Devon Energy (DVN) stake in an Azerbaijan oil field, say sources close to the matter. A Chinese purchase would be the latest in an $18B string of energy acquisitions since Dec. 2008.
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  • Feb. 17, 2010, 7:57 AM
    Devon Energy (DVN): Q4 EPS of $1.60 beats by $0.35. Revenue of $2.4B (-4.2%) vs. $2.2B. Shares +2.8% premarket. (PR)
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  • Feb. 17, 2010, 12:05 AM
    Notable earnings before Wednesday's open: DE, DVN, GENZ, HL, HST, IAG, OMX, XTO
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  • Dec. 22, 2009, 8:46 AM
    Devon Energy (DVN) to sell its stake in three Gulf of Mexico projects to Maersk for $1.3B, a first step in its plan to divest all of its international assets and reposition as a purely North American onshore company. DVN +1.6% premarket.
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  • Dec. 14, 2009, 9:00 AM
    Premarket gainers: XTO +19%. JAVA +10%. CLDX +9%. PWR +8%. CHK +7%. SIGA +6%. TER +6%. HK +6%. UPL +5%. LUV +5%. ANDS +5%. EOG +5%. SM +5%. DVN +4%. SD +4%. COG +4%. V +4%. TKC +4%. APC +4%. KWK +4%. TQNT +4%.
    Losers: AUO -6%. EBR -6%. C -3%.
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  • Dec. 14, 2009, 8:36 AM
    Natural gas stocks higher premarket thanks to the ExxonMobil (XOM) / XTO Energy (XTO) deal. CHK +7.5%. DVN +4.1%. APC +4.1%
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  • Nov. 16, 2009, 9:09 AM
    Devon Energy (DVN) says it will shed its Gulf of Mexico and international assets in order to concentrate on its domestic onshore business, potentially generating after-tax proceeds of $4.5-7.5B. "We do not believe that the value of our high-quality Gulf and international assets is being adequately reflected in our stock price. By monetizing these assets, we will realize their full value, allowing us to unleash the growth potential that resides within our world-class onshore assets." (PR) Shares +3.5% premarket.
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  • Nov. 4, 2009, 7:58 AM
    Devon Energy (DVN): Q3 EPS of $1.10 beats by $0.20. Revenue of $2.1B (-64.9%) in-line. O&G production is up 8% YTD. Shares +4.3% premarket. (PR)
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  • Nov. 4, 2009, 12:05 AM
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  • Aug. 5, 2009, 9:00 AM
    Premarket gainers: INO +42%. RDN +37%. GRMN +20%. PMI +18%. WFMI +16%. USU +14%. BZ +11. TRA +11%. LYG +11%. FWLT +10%. OWW +10%. AIB +8%. RBS +7%. FIG +6%. BCS +5%. CNO +6%. HW +5%. SATC +5%. SAY +4%. ABAT +4%. DVN +4%.
    Losers: ACAS -21%. ISPH -9%. PWR -6%. AXL -6%. HCP -5%. BMC -5%. RIG -4%.
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Company Description
Devon Energy Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and NGLs.