Devon Energy Corporation Forecasted to Post Q3 2017 Earnings of $0.34 Per Share (DVN)
Devon Energy Corporation (NYSE:DVN) – Equities research analysts at Jefferies Group issued their Q3 2017 EPS estimates for shares of Devon Energy Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear forecasts that the energy company will post earnings per share of $0.34 for the quarter. Jefferies Group has a “Buy” rating and a $43.00 price objective on the stock. Jefferies Group also issued estimates for Devon Energy Corporation’s Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.62 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.41 EPS and FY2019 earnings at $3.27 EPS.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Devon Energy Corporation’s revenue was up 31.6% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/12/devon-energy-corporation-forecasted-to-post-q3-2017-earnings-of-0-34-per-share-dvn.html.
DVN has been the topic of several other research reports. BidaskClub cut shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. reduced their price objective on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Scotiabank set a $47.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Friday, August 11th. BMO Capital Markets set a $38.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Monday, August 28th. Finally, Stifel Nicolaus set a $66.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $45.31.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 36.08 on Thursday. The stock has a market cap of $18.96 billion, a P/E ratio of 8.16 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 stock has a 50 day moving average of $34.01 and a 200 day moving average of $34.80.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Devon Energy Corporation by 10.4% in the 1st quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock worth $110,000 after buying an additional 248 shares during the last quarter. Sun Life Financial INC boosted its stake in Devon Energy Corporation by 32,058.3% in the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares during the last quarter. Global X Management Co. LLC boosted its stake in Devon Energy Corporation by 34.0% in the 1st quarter. Global X Management Co. LLC now owns 4,036 shares of the energy company’s stock worth $168,000 after buying an additional 1,025 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Devon Energy Corporation in the 2nd quarter worth about $144,000. Finally, FNY Partners Fund LP boosted its stake in Devon Energy Corporation by 19,500.0% in the 1st quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after buying an additional 4,875 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert H. Henry sold 7,045 shares of the 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 sale, the director now owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by company 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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s payout ratio is currently 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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