UPDATE: Devon Energy Shares Slide 6% On Q4 Earnings, Production Numbers

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After rising slightly in the pre-market, Devon Energy ( DVN ) shares have slumped 6.2% to $56.85, near the low end of their day range, after the company reported Q4 earnings of $0.78 per share, ex one-time items, versus the Capital IQ consensus of $0.76. Revenues were $2.58 bln, versus the analyst estimate of $2.44 bln.

The company also said oil production increased 20% year-over-year, offsetting

declines in natural gas volumes due to reduced activity levels. Total

production of oil, natural gas, and natural gas liquids increased to 250 mln

oil-equivalent barrels (Boe) in 2012.

DVN has traded in a day range of $56.22 - $60.62.



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This article appears in: Investing , Commodities

Referenced Stocks: DVN

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