Devon Energy Corp (DVN) to Post Q1 2017 Earnings of $0.40 Per Share, Jefferies Group Forecasts
Devon Energy Corp (NYSE:DVN) – Analysts at Jefferies Group upped their Q1 2017 earnings per share estimates for Devon Energy Corp in a note issued to investors on Tuesday. Jefferies Group analyst M. Hsu now forecasts that the energy company will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.39. Jefferies Group currently has a “Hold” rating and a $48.00 price target on the stock. Jefferies Group also issued estimates for Devon Energy Corp’s Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.14 EPS, Q1 2018 earnings at $0.88 EPS, Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.16 EPS and Q4 2018 earnings at $1.30 EPS.
Devon Energy Corp (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 14th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business earned $2.81 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Devon Energy Corp had a positive return on equity of 1.48% and a negative net margin of 69.59%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/04/20/devon-energy-corp-dvn-to-post-q1-2017-earnings-of-0-40-per-share-jefferies-group-forecasts.html.
Other analysts also recently issued reports about the company. Stifel Nicolaus began coverage on Devon Energy Corp in a research note on Wednesday, April 12th. They set a “buy” rating and a $73.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research upgraded Devon Energy Corp from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 price target on shares of Devon Energy Corp in a research note on Tuesday, January 3rd. Wells Fargo & Co downgraded Devon Energy Corp from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a research note on Wednesday, January 11th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $55.00 price target on shares of Devon Energy Corp in a research note on Thursday, February 16th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $51.29.
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Shares of Devon Energy Corp (NYSE:DVN) opened at 39.25 on Thursday. The company’s market capitalization is $20.59 billion. The company has a 50 day moving average price of $41.28 and a 200 day moving average price of $43.85. Devon Energy Corp has a 52 week low of $29.60 and a 52 week high of $50.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. Devon Energy Corp’s dividend payout ratio (DPR) is presently -1.28%.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Devon Energy Corp by 3.3% in the fourth quarter. State Street Corp now owns 27,743,193 shares of the energy company’s stock worth $1,267,033,000 after buying an additional 888,426 shares during the period. Norges Bank acquired a new stake in Devon Energy Corp during the fourth quarter worth $239,147,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Devon Energy Corp by 12.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,098,310 shares of the energy company’s stock worth $232,840,000 after buying an additional 582,340 shares during the period. Tweedy Browne Co. LLC boosted its stake in Devon Energy Corp by 4.9% in the fourth quarter. Tweedy Browne Co. LLC now owns 3,540,679 shares of the energy company’s stock worth $161,703,000 after buying an additional 166,240 shares during the period. Finally, Discovery Capital Management LLC CT acquired a new stake in Devon Energy Corp during the fourth quarter worth $153,392,000. 77.18% of the stock is currently owned by institutional investors.
About Devon Energy Corp
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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