Devon Energy falls after Q1 profit miss

Shares of Devon Energy DVN.N fall 2.8% to $29.74

Company late on Tuesday missed Q1 profit estimates as lower oil prices offset higher production

DVN posts adjusted profit of $1.21 per share vs analyst estimates of $1.25 per share - data compiled by LSEG

It cut capital expenditure plan for the year by $100 million to between $3.7 billion and $3.9 billion

However, DVN's total quarterly production rose 22.7% to 815 thousand barrels of oil equivalent/day from a year earlier

"We view the update as mixed relative to market expectations and some near-term pressure could be seen on the stock" - Siebert Williams

Including session's moves, shares down 9.1% YTD