Devon Energy Corp (NYSE:DVN) – Research analysts at Seaport Global Securities issued their Q3 2018 EPS estimates for shares of Devon Energy in a research report issued to clients and investors on Wednesday, October 17th. Seaport Global Securities analyst J. Aschenbeck forecasts that the energy company will post earnings per share of $0.21 for the quarter. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Devon Energy’s Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.16 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.28 EPS and FY2019 earnings at $0.99 EPS.
Several other research analysts have also recently weighed in on DVN. ValuEngine raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Morgan Stanley started coverage on shares of Devon Energy in a research report on Thursday, July 12th. They set an “equal weight” rating and a $46.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating on shares of Devon Energy in a research report on Friday, July 13th. Bank of America upped their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Finally, Jefferies Financial Group set a $53.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research report on Wednesday, July 18th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Devon Energy presently has a consensus rating of “Buy” and a consensus target price of $49.78.
Shares of DVN stock opened at $34.94 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market cap of $17.86 billion, a PE ratio of 55.46, a PEG ratio of 1.49 and a beta of 2.26. Devon Energy has a twelve month low of $29.83 and a twelve month high of $46.54.
Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, July 31st. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Devon Energy had a negative net margin of 1.60% and a positive return on equity of 5.52%. During the same period in the previous year, the firm posted $0.80 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. DFT Energy LP lifted its position in shares of Devon Energy by 100.0% during the third quarter. DFT Energy LP now owns 230,000 shares of the energy company’s stock worth $9,186,000 after purchasing an additional 115,000 shares in the last quarter. Oakbrook Investments LLC lifted its position in shares of Devon Energy by 59.2% during the third quarter. Oakbrook Investments LLC now owns 56,485 shares of the energy company’s stock worth $2,256,000 after purchasing an additional 21,000 shares in the last quarter. Aperio Group LLC lifted its position in shares of Devon Energy by 0.7% during the third quarter. Aperio Group LLC now owns 220,582 shares of the energy company’s stock worth $8,810,000 after purchasing an additional 1,574 shares in the last quarter. Guinness Asset Management Ltd lifted its position in shares of Devon Energy by 14.5% during the third quarter. Guinness Asset Management Ltd now owns 286,576 shares of the energy company’s stock worth $11,446,000 after purchasing an additional 36,200 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Devon Energy by 4.8% during the third quarter. Nisa Investment Advisors LLC now owns 166,747 shares of the energy company’s stock worth $6,660,000 after buying an additional 7,605 shares during the period. 84.06% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert H. Henry sold 5,600 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $42.14, for a total transaction of $235,984.00. Following the sale, the director now owns 9,704 shares of the company’s stock, valued at $408,926.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. Devon Energy’s dividend payout ratio is presently 50.79%.
About Devon Energy
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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