Devon Energy said it will report second-quarter 2023 financial results on Aug. 1. as executive leadership hopes it might improve on record oil production in the first quarter.
The Oklahoma City-based company said the release will come after the close of U.S financial markets on that Tuesday. The earnings release and presentation for the second-quarter 2023 results will be available on the company’s website at www.devonenergy.com.
On Wednesday, Aug. 2, the company will hold a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time), which will consist primarily of answers to questions from analysts and investors.
Devon leadership is hoping to build on a strong first quarter in which the company’s oil production reached an all-time high of 320,000 barrels of oil a day. As a result, Devon’s operating cash flow totaled $1.7 billion and its free cash flow reached $665 million in the first quarter. The company also declared a dividend payout of 72 cents a share and accelerated its share buyback activity with $692 million of repurchases year-to-date.
After shares marked a minus 0.88% in Tuesday’s trading, one firm, Zacks Equity Research pointed out the slip was in opposition to the S&P 500’s 1.15% gain for the day.
On Wednesday, Devon shares gained 37 cents or 0.78% to close at $47.69 a share.
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