Devon Energy Reports First-Quarter 2022 Financial and Operational Results
Devon Energy Corp. (NYSE: ...
Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the first quarter of 2022.
Earnings - the Company reported $1.88 in adjusted earnings per share for the quarter, versus Street expectations for $1.76.
Cash flow - free cash flow reached a record of $1.3b in the quarter or 3.4% of Devon's (DVN) current market cap.
Capital allocation - management bumped the dividend 27% to $1.27 (8.7% yield), and expanded the share buyback program while retiring 1.1% of average diluted shares outstanding during the quarter.
Guidance - the Company made no change to capital or production guidance.
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Unconfirmed reports are surfacing that Russian President Vladimir Putin...
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What Happened: A Russian-language Telegram channel called "General SVR" first reported the news in a posting that is no longer online. The New York Post reported the channel is allegedly run by someone calling himself “Viktor Mikhailovich,” although the channel’s operator is reportedly a former Russian Foreign Intelligence Service lieutenant general.
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