Analysts predict that Devon Energy Corp (NYSE:DVN) will announce earnings of $0.48 per share for the current quarter, according to Zacks. Four analysts have made estimates for Devon Energy’s earnings, with estimates ranging from $0.29 to $0.65. Devon Energy reported earnings of $0.34 per share during the same quarter last year, which would indicate a positive year over year growth rate of 41.2%. The business is scheduled to report its next earnings results after the market closes on Tuesday, August 6th.
On average, analysts expect that Devon Energy will report full-year earnings of $1.79 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $2.26. For the next financial year, analysts expect that the business will post earnings of $2.72 per share, with EPS estimates ranging from $1.64 to $7.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Devon Energy.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. During the same quarter in the previous year, the firm earned $0.20 EPS.
Several brokerages have recently weighed in on DVN. Seaport Global Securities restated a “buy” rating on shares of Devon Energy in a research report on Friday, June 21st. Wells Fargo & Co began coverage on shares of Devon Energy in a research report on Monday, May 20th. They set an “outperform” rating and a $40.00 price objective for the company. Zacks Investment Research downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Morgan Stanley set a $32.00 price objective on shares of Devon Energy and gave the stock a “hold” rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. Devon Energy presently has a consensus rating of “Hold” and a consensus target price of $44.30.
Shares of NYSE:DVN traded up $0.38 during trading on Monday, hitting $27.90. 4,754,106 shares of the company were exchanged, compared to its average volume of 5,632,061. The stock has a market capitalization of $11.43 billion, a PE ratio of 21.63, a P/E/G ratio of 1.92 and a beta of 2.27. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.74. Devon Energy has a 12-month low of $20.37 and a 12-month high of $46.54. The company has a 50 day moving average of $27.31.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.09 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.29%. Devon Energy’s payout ratio is 27.91%.
In other news, CAO Jeremy D. Humphers sold 4,000 shares of Devon Energy stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $25.40, for a total value of $101,600.00. Following the transaction, the chief accounting officer now directly owns 81,914 shares of the company’s stock, valued at approximately $2,080,615.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. LS Investment Advisors LLC increased its stake in Devon Energy by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 20,155 shares of the energy company’s stock valued at $636,000 after buying an additional 334 shares during the period. Intrust Bank NA increased its stake in Devon Energy by 3.3% in the 1st quarter. Intrust Bank NA now owns 11,521 shares of the energy company’s stock valued at $363,000 after buying an additional 366 shares during the period. Meeder Asset Management Inc. increased its stake in Devon Energy by 94.6% in the 1st quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after buying an additional 400 shares during the period. Chartwell Investment Partners LLC increased its stake in Devon Energy by 1.0% in the 1st quarter. Chartwell Investment Partners LLC now owns 62,814 shares of the energy company’s stock valued at $1,982,000 after buying an additional 595 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Devon Energy by 3.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 21,332 shares of the energy company’s stock valued at $481,000 after buying an additional 636 shares during the period. 84.06% of the stock is currently owned by institutional investors.
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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