earnings
confidence high
sentiment positive
materiality 0.80
Devon Energy Q4 net earnings $1.5B, core EPS $1.39; free cash flow $1.1B, dividend $1.00/share
DEVON ENERGY CORP/DE
2021-FY EPS reported
$4.19
revenue$12,206,000,000
- Net earnings of $1.5B ($2.23/diluted); core earnings of $935M ($1.39/diluted).
- Operating cash flow of $1.6B; free cash flow of $1.1B in Q4, $2.9B full year (record).
- Board raised fixed dividend 45% and declared $1.00/share total dividend; share repurchase authorization boosted 60% to $1.6B.
- Q4 production averaged 611 MBoe/d (3% above guidance); 2022 capex guide $1.9-2.2B with production 570-600 MBoe/d.
- Repurchased 14M shares for $589M in Q4; retired $1.2B debt in 2021; plans up to $1B debt reduction by 2023.