Devon Energy Corporation (DVN) Expected to Earn Q3 2017 Earnings of $0.56 Per Share
Devon Energy Corporation (NYSE:DVN) – Research analysts at Capital One Financial Corporation reduced their Q3 2017 earnings per share estimates for shares of Devon Energy Corporation in a report issued on Wednesday. Capital One Financial Corporation analyst P. Johnston now forecasts that the energy company will earn $0.56 per share for the quarter, down from their prior forecast of $0.61. Capital One Financial Corporation also issued estimates for Devon Energy Corporation’s FY2017 earnings at $1.95 EPS.
Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 price objective on shares of Devon Energy Corporation in a research report on Sunday, September 3rd. Jefferies Group LLC restated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Devon Energy Corporation in a research note on Tuesday, August 29th. BMO Capital Markets set a $38.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, August 28th. Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Cowen and Company reiterated a “buy” rating and set a $37.00 price target on shares of Devon Energy Corporation in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.27.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 32.39 on Friday. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 7.33 and a beta of 2.18. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The firm’s 50-day moving average price is $31.85 and its 200-day moving average price is $35.95.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share.
In other news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the sale, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DVN. State of Alaska Department of Revenue acquired a new stake in Devon Energy Corporation during the 1st quarter valued at $116,000. Canada Pension Plan Investment Board increased its position in Devon Energy Corporation by 51.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 140,740 shares of the energy company’s stock worth $5,872,000 after buying an additional 47,926 shares during the period. Hussman Strategic Advisors Inc. bought a new position in Devon Energy Corporation during the 1st quarter worth $2,086,000. State Treasurer State of Michigan increased its position in Devon Energy Corporation by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 172,363 shares of the energy company’s stock worth $7,191,000 after buying an additional 1,100 shares during the period. Finally, Tyers Asset Management LLC increased its position in Devon Energy Corporation by 25.5% during the 1st quarter. Tyers Asset Management LLC now owns 9,536 shares of the energy company’s stock worth $398,000 after buying an additional 1,936 shares during the period. 77.00% of the stock is owned by institutional investors and hedge funds.
About Devon Energy Corporation
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).
Receive News & Ratings for Devon Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.