Devon reporterd adjusted third-quarter EPS of $2.18.
FactSet consensus estimates called for earnings of $2.12. with $4.15 billion in sales — up 96% and 20%, respectively.
The earnings gain kept the oil producer's pace above 100%, but still marked a sharp slowdown from the hot triple-digit growth rates recorded over the past six quarters.
The oil producer has a history of beating EPS estimates, with Q2 beating by over 12%, Q1 beating by over 7%, and Q4 2021 by over 12%.
Management announced a quarterly dividend of $1.35, down from the second-quarter's $1.55 payout, although 61% above the year ago.
Oklahoma City-based oil and natural gas explorer Devon has its largest concentration in the Delaware Basin area of the Permian Basin in West Texas. It also has acreage in the Eagle Ford basin in Texas, the Williston Basin in the north central U.S., the Anadarko Basin in Oklahoma and the Powder River Basin in Wyoming.
Devon is the third-largest company, measured by market capitalization, in the U.S. explorers/producers industry group, at $50.24 billion. That puts it behind Pioneer Natural Resources (PXD) at $60.92 billion and EOG Resources (EOG) at $70.49 billion.
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