Equities research analysts forecast that Devon Energy Corp (NYSE:DVN) will post $0.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Devon Energy’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.78. Devon Energy posted earnings per share of $0.41 in the same quarter last year, which suggests a positive year over year growth rate of 65.9%. The company is expected to issue its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Devon Energy will report full-year earnings of $2.95 per share for the current financial year, with EPS estimates ranging from $2.16 to $3.55. For the next year, analysts expect that the firm will report earnings of $3.31 per share, with EPS estimates ranging from $2.90 to $3.77. 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 announced its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.22). The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.58 billion. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS.
Several brokerages have commented on DVN. Capital One Financial downgraded Devon Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 10th. Credit Suisse Group began coverage on Devon Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $43.00 price objective on the stock. Cowen set a $40.00 price objective on Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Tuesday, November 28th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Devon Energy in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Devon Energy presently has an average rating of “Buy” and an average target price of $47.29.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 67,900 shares in the company, valued at approximately $2,599,891. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of DVN. EnCap Energy Capital Fund IX L.P. purchased a new stake in shares of Devon Energy during the 4th quarter worth $488,237,000. Alyeska Investment Group L.P. raised its stake in Devon Energy by 4,117.5% in the third quarter. Alyeska Investment Group L.P. now owns 1,835,864 shares of the energy company’s stock valued at $67,395,000 after buying an additional 1,792,334 shares during the last quarter. Discovery Capital Management LLC CT raised its stake in Devon Energy by 2,921.0% in the fourth quarter. Discovery Capital Management LLC CT now owns 1,223,485 shares of the energy company’s stock valued at $50,652,000 after buying an additional 1,182,985 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Devon Energy in the fourth quarter valued at about $47,888,000. Finally, Victory Capital Management Inc. raised its stake in Devon Energy by 21.6% in the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock valued at $204,501,000 after buying an additional 988,090 shares during the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.
Devon Energy (DVN) opened at $32.23 on Wednesday. The company has a market capitalization of $17,907.75, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.65 and a beta of 2.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. Devon Energy has a 12-month low of $28.79 and a 12-month high of $45.16.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders 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 dividend yield of 0.74%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.19%.
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About Devon Energy
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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