Q2 2017 Earnings Forecast for Devon Energy Corporation Issued By Capital One Financial Corporation (DVN)
Devon Energy Corporation (NYSE:DVN) – Investment analysts at Capital One Financial Corporation lifted their Q2 2017 EPS estimates for Devon Energy Corporation in a research note issued on Tuesday. Capital One Financial Corporation analyst P. Johnston now expects that the energy company will post earnings of $0.65 per share for the quarter, up from their previous forecast of $0.62. Capital One Financial Corporation also issued estimates for Devon Energy Corporation’s Q3 2017 earnings at $0.73 EPS, Q4 2017 earnings at $0.76 EPS, FY2017 earnings at $2.55 EPS and FY2018 earnings at $2.54 EPS.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Devon Energy Corporation had a return on equity of 4.25% and a net margin of 2.34%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $2.98 billion.
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Several other analysts have also recently weighed in on the stock. BidaskClub raised shares of Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of Devon Energy Corporation in a research report on Tuesday, June 6th. Royal Bank Of Canada set a $53.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Monday, May 29th. Scotiabank set a $57.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $38.00 price target on shares of Devon Energy Corporation in a research report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Devon Energy Corporation presently has a consensus rating of “Buy” and a consensus target price of $51.45.
Devon Energy Corporation (DVN) opened at 32.19 on Thursday. Devon Energy Corporation has a 52-week low of $31.38 and a 52-week high of $50.69. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 54.65 and a beta of 2.10. The stock has a 50 day moving average price of $36.33 and a 200 day moving average price of $42.20. Devon Energy Corporation also saw unusually large options trading activity on Tuesday. Stock investors acquired 3,377 put options on the stock. This is an increase of approximately 109% compared to the average volume of 1,617 put options.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after buying an additional 45,025,477 shares in the last quarter. Norges Bank acquired a new stake in Devon Energy Corporation during the fourth quarter worth $239,147,000. Discovery Capital Management LLC CT acquired a new stake in Devon Energy Corporation during the fourth quarter worth $153,392,000. Janus Capital Management LLC raised its stake in Devon Energy Corporation by 408.1% in the first quarter. Janus Capital Management LLC now owns 2,572,931 shares of the energy company’s stock worth $107,342,000 after buying an additional 2,066,530 shares in the last quarter. Finally, Shelton Capital Management raised its stake in Devon Energy Corporation by 14,804.2% in the fourth quarter. Shelton Capital Management now owns 2,000,000 shares of the energy company’s stock worth $613,000 after buying an additional 1,986,581 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.
In related news, Director Robert A. Mosbacher, Jr. sold 800 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $39.18, for a total value of $31,344.00. Following the sale, the director now owns 23,308 shares in the company, valued at approximately $913,207.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.75%. Devon Energy Corporation’s dividend payout ratio is presently 43.64%.
Devon Energy Corporation Company Profile
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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