Analysts Set Expectations for Devon Energy Corporation’s Q1 2019 Earnings (DVN)
Devon Energy Corporation (NYSE:DVN) – Equities researchers at Jefferies Group issued their Q1 2019 earnings estimates for Devon Energy Corporation in a research note issued to investors on Monday. Jefferies Group analyst M. Lear expects that the energy company will earn $0.76 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $43.00 price target on the stock. Jefferies Group also issued estimates for Devon Energy Corporation’s Q2 2019 earnings at $0.80 EPS and Q3 2019 earnings at $0.84 EPS.
Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share.
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Shares of Devon Energy Corporation (NYSE:DVN) traded down 0.25% during midday trading on Wednesday, reaching $35.91. 1,565,719 shares of the company’s stock were exchanged. The company has a market cap of $18.87 billion, a P/E ratio of 7.67 and a beta of 2.21. Devon Energy Corporation has a 12 month low of $28.79 and a 12 month high of $50.69. The firm has a 50 day moving average price of $33.85 and a 200 day moving average price of $34.79.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of 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 purchasing an additional 45,025,477 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Devon Energy Corporation by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after purchasing an additional 1,295,417 shares during the last quarter. State Street Corp increased its position in shares of Devon Energy Corporation by 1.0% in the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after purchasing an additional 265,179 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Devon Energy Corporation by 3.3% in the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after purchasing an additional 255,610 shares during the last quarter. Finally, Standard Life Investments LTD increased its position in shares of Devon Energy Corporation by 1.3% in the second quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after purchasing an additional 75,952 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.
In related news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
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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