| DVN |
Report |
Q2 total production (MMBoe/d) |
BEAT |
pred ~1.355 MMBoe/d vs. cons 1.338 MMBoe/d |
MEDIUM |
| DVN |
Report |
Q2 oil production (Mbbl/d) |
BEAT |
pred ~503 Mbbl/d vs. cons 495 Mbbl/d |
MEDIUM |
| DVN |
Report |
Q2 capital spending |
BEAT |
pred ~$1.27B vs. cons $1.30B |
MEDIUM |
| DVN |
Guide |
Full-year total production |
BETTER |
guide ~1.390 MMBoe/d vs. cons 1.380 MMBoe/d (FY2026) |
MEDIUM |
| DVN |
Guide |
Full-year oil production |
BETTER |
guide ~502.5 Mbbl/d vs. cons 500.0 Mbbl/d (FY2026) |
LOW |
| DVN |
Guide |
Full-year capital spending |
UNCHANGED |
guide ~$4.90B vs. cons $4.90B (FY2026) |
HIGH |
| DVN |
Guide |
Merger synergy capture |
BETTER |
guide ~$650M vs. cons $600M (FY2027) |
LOW |
| DVN |
Return |
Day-1 residual (stock − beta × S&P 500) |
+3.6% |
— |
MEDIUM |
| DVN |
Return |
5-day cumulative residual |
+4.8% (FOLLOW-THROUGH) |
Positive revisions should extend beyond the initial operational beat: FY2026 production guide of ~1.390 MMBoe/d vs. consensus 1.380 MMBoe/d with capital held at ~$4.90B vs. $4.90B improves out-period free-cash-flow estimates, while 2027 synergy capture of ~$650M vs. $600M supports additional per-share estimate increases. |
LOW |