Pages

Monday, August 1, 2022

DVN -- August 1, 2022

The new dividend:

  • quarterly = $1.55
  • 4 x $1.55 = $6.20
  • current DVN price: $62
  • dividend annual yield: 10%

From Reuters:

  • 2Q22
  • surpassed estimates
  • raised quarterly dividend by 22%
  • to $1.55 from $1.27
  • lifted its 2022 (this year) production forecast too 600,000 bopd fromo 570,000 bopd
  • due to better-than-expected (say what?) well performance; and,
  • acquisition of Williston Basin assets (say what?)
  • net earnings:
  • $1.93 billion vs $256 million one year ago;
  • $2.93 per share vs 38 cents / share a year ago;
The biggest takeaway for me with regard to DVN's earnings and share price:
  • investors want dividends, not share buybacks.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.