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Devon Energy Corp.: DVN-US: Earnings Analysis: Q4, 2016 By the Numbers : February 16, 2017 – $DVN

Devon Energy Corp. reports financial results for the quarter ended December 31, 2016.

We analyze the earnings along side the following peers of Devon Energy Corp. – Anadarko Petroleum Corporation, Occidental Petroleum Corporation, Pioneer Natural Resources Company and ConocoPhillips (APC-US, OXY-US, PXD-US and COP-US) that have also reported for this period.

Highlights

  • Summary numbers: Revenues of USD 2979 million, Net Earnings of USD 331 million.
  • Gross margins widened from 7.37% to 21.22% compared to the same period last year, operating (EBITDA) margins now 25.61% from 19.76%.
  • Year-on-year change in operating cash flow of -50.42% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Earnings growth from operating margin improvements as well as one-time items.



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