Equities research analysts expect that Devon Energy Corp (NYSE:DVN) will announce sales of $2.14 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Devon Energy’s earnings. The lowest sales estimate is $1.58 billion and the highest is $2.66 billion. Devon Energy reported sales of $3.16 billion during the same quarter last year, which indicates a negative year over year growth rate of 32.3%. The company is scheduled to report its next earnings report after the market closes on Tuesday, November 6th.
On average, analysts expect that Devon Energy will report full-year sales of $10.11 billion for the current year, with estimates ranging from $9.20 billion to $11.44 billion. For the next year, analysts forecast that the firm will report sales of $8.38 billion, with estimates ranging from $6.43 billion to $11.48 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Devon Energy.
Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, July 31st. The energy company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Devon Energy had a negative net margin of 1.60% and a positive return on equity of 5.52%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm posted $0.80 EPS.
A number of research analysts have recently issued reports on DVN shares. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Tuesday, August 7th. UBS Group upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, August 6th. ValuEngine upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Stephens set a $52.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Mizuho started coverage on shares of Devon Energy in a research note on Monday, July 23rd. They issued a “buy” rating and a $59.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.78.
NYSE:DVN opened at $34.94 on Friday. Devon Energy has a 1 year low of $29.83 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market capitalization of $17.86 billion, a PE ratio of 55.46, a PEG ratio of 1.49 and a beta of 2.26.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 50.79%.
In related news, Director Robert H. Henry sold 5,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $42.14, for a total value of $235,984.00. Following the completion of the transaction, the director now owns 9,704 shares in the company, valued at approximately $408,926.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. DFT Energy LP raised its position in shares of Devon Energy by 100.0% during the 3rd quarter. DFT Energy LP now owns 230,000 shares of the energy company’s stock valued at $9,186,000 after acquiring an additional 115,000 shares during the last quarter. Oakbrook Investments LLC raised its position in shares of Devon Energy by 59.2% during the 3rd quarter. Oakbrook Investments LLC now owns 56,485 shares of the energy company’s stock valued at $2,256,000 after acquiring an additional 21,000 shares during the last quarter. Aperio Group LLC raised its position in shares of Devon Energy by 0.7% during the 3rd quarter. Aperio Group LLC now owns 220,582 shares of the energy company’s stock valued at $8,810,000 after acquiring an additional 1,574 shares during the last quarter. Guinness Asset Management Ltd raised its position in shares of Devon Energy by 14.5% during the 3rd quarter. Guinness Asset Management Ltd now owns 286,576 shares of the energy company’s stock valued at $11,446,000 after acquiring an additional 36,200 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Devon Energy by 4.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 166,747 shares of the energy company’s stock valued at $6,660,000 after acquiring an additional 7,605 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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