Devon Energy Corporation (NYSE:DVN) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.40 per share for the quarter.
Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. On average, analysts expect Devon Energy Corporation to post $1.7 EPS for the current fiscal year and $2.1 EPS for the next fiscal year.
Shares of Devon Energy Corporation (NYSE DVN) opened at 35.88 on Friday. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 8.12 and a beta of 2.21. The firm has a 50-day moving average of $35.17 and a 200 day moving average of $34.31. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
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In other news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
A number of research analysts recently issued reports on DVN shares. BMO Capital Markets boosted their target price on shares of Devon Energy Corporation from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 target price on shares of Devon Energy Corporation in a research report on Sunday, September 3rd. Barclays PLC reiterated an “overweight” rating and set a $35.00 target price (up previously from $31.00) on shares of Devon Energy Corporation in a research report on Wednesday, August 9th. Sanford C. Bernstein downgraded shares of Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $54.00 to $33.00 in a research report on Thursday, July 6th. Finally, BidaskClub downgraded shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Devon Energy Corporation currently has an average rating of “Buy” and a consensus price target of $45.47.
About Devon Energy Corporation
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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