Devon Energy Corporation (NYSE:DVN) – Research analysts at Capital One Financial Corporation decreased their Q3 2017 earnings per share estimates for Devon Energy Corporation in a note issued to investors on Tuesday. Capital One Financial Corporation analyst P. Johnston now expects that the energy company will earn $0.55 per share for the quarter, down from their previous estimate of $0.56. Capital One Financial Corporation also issued estimates for Devon Energy Corporation’s FY2017 earnings at $1.94 EPS.

A number of other equities research analysts have also issued reports on DVN. BidaskClub raised Devon Energy Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Seaport Global Securities lowered Devon Energy Corporation from a “buy” rating to a “neutral” rating and cut their target price for the stock from $51.00 to $28.00 in a research report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $42.00 target price on shares of Devon Energy Corporation in a research report on Thursday, June 22nd. Scotiabank set a $49.00 price target on Devon Energy Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered Devon Energy Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $54.00 to $33.00 in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $44.88.

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Shares of Devon Energy Corporation (DVN) opened at 36.00 on Wednesday. The stock has a market cap of $18.92 billion, a PE ratio of 8.14 and a beta of 2.21. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The company’s 50-day moving average price is $33.85 and its 200-day moving average price is $34.79.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 5.47%.

In related news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Park National Corp OH increased its position in Devon Energy Corporation by 0.8% in the 2nd quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock worth $217,000 after purchasing an additional 54 shares during the last quarter. Point View Wealth Management Inc. increased its position in Devon Energy Corporation by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after purchasing an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Devon Energy Corporation by 1.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after purchasing an additional 96 shares during the last quarter. Wedbush Securities Inc. increased its position in Devon Energy Corporation by 1.1% in the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after purchasing an additional 99 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. increased its position in Devon Energy Corporation by 1.0% in the 1st quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock worth $420,000 after purchasing an additional 100 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

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).

Earnings History and Estimates for Devon Energy Corporation (NYSE:DVN)

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