Brokerages expect that Devon Energy Corp (NYSE:DVN) will post earnings per share of $0.61 for the current quarter, according to Zacks. Four analysts have made estimates for Devon Energy’s earnings, with estimates ranging from $0.49 to $0.79. Devon Energy posted earnings of $0.25 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 144%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, February 20th.
On average, analysts expect that Devon Energy will report full year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.63 to $2.00. For the next fiscal year, analysts expect that the company will post earnings of $2.47 per share, with EPS estimates ranging from $1.91 to $3.34. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Devon Energy.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $1.89 EPS. Devon Energy’s revenue for the quarter was up 9.5% on a year-over-year basis.
A number of equities research analysts have recently weighed in on DVN shares. Cowen reissued a “buy” rating and issued a $40.00 target price on shares of Devon Energy in a research note on Thursday, September 28th. Stifel Nicolaus set a $66.00 target price on Devon Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Jefferies Group raised Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Monday, October 9th. BMO Capital Markets set a $45.00 target price on Devon Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Finally, Morgan Stanley upped their price target on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $45.82.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the transaction, the executive vice president now owns 67,900 shares in the company, valued at approximately $2,599,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.
Several hedge funds have recently bought and sold shares of DVN. Renaissance Technologies LLC grew its holdings in shares of Devon Energy by 118.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock worth $139,917,000 after acquiring an additional 2,370,500 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Devon Energy by 4,117.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,835,864 shares of the energy company’s stock worth $67,395,000 after acquiring an additional 1,792,334 shares during the period. Vanguard Group Inc. grew its holdings in shares of Devon Energy by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after acquiring an additional 1,295,417 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 21.6% during the 3rd quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after acquiring an additional 988,090 shares during the period. Finally, Scout Investments Inc. purchased a new position in shares of Devon Energy during the 3rd quarter worth approximately $32,652,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.
Devon Energy (NYSE:DVN) traded up $0.01 during midday trading on Thursday, hitting $43.45. The stock had a trading volume of 592,306 shares, compared to its average volume of 4,912,754. Devon Energy has a 12 month low of $28.79 and a 12 month high of $47.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $22,830.00, a price-to-earnings ratio of 14.78, a PEG ratio of 2.57 and a beta of 2.21.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, March 14th. Devon Energy’s payout ratio is 8.16%.
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Devon Energy Company Profile
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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