Wall Street brokerages expect that Devon Energy Corporation (NYSE:DVN) will post earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Devon Energy’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.79. Devon Energy reported earnings per share of $0.25 during the same quarter last year, which would suggest a positive year-over-year growth rate of 132%. The company is expected to report its next quarterly earnings report on Tuesday, February 13th.

On average, analysts expect that Devon Energy will report full-year earnings of $1.77 per share for the current financial year, with EPS estimates ranging from $1.63 to $2.00. For the next year, analysts expect that the firm will post earnings of $2.19 per share, with EPS estimates ranging from $0.76 to $3.09. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Devon Energy.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The firm’s revenue was up 9.5% on a year-over-year basis.

DVN has been the subject of several analyst reports. BidaskClub cut shares of Devon Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Cowen reiterated a “buy” rating and set a $37.00 price target on shares of Devon Energy in a report on Tuesday, August 22nd. Royal Bank of Canada set a $43.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Stifel Nicolaus set a $61.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, BMO Capital Markets set a $38.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. Devon Energy currently has an average rating of “Buy” and an average price target of $45.39.

Several institutional investors have recently modified their holdings of DVN. FNY Managed Accounts LLC purchased a new stake in Devon Energy in the 3rd quarter valued at $134,000. Sun Life Financial INC raised its position in Devon Energy by 32,058.3% in the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,847 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in Devon Energy in the 2nd quarter valued at $144,000. Global X Management Co. LLC raised its position in Devon Energy by 12.5% in the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock valued at $145,000 after purchasing an additional 503 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Devon Energy in the 3rd quarter valued at $183,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Devon Energy (NYSE DVN) traded down $0.32 during midday trading on Friday, reaching $37.68. 7,264,707 shares of the company’s stock traded hands, compared to its average volume of 5,040,000. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy has a 12 month low of $28.79 and a 12 month high of $49.45. The firm has a market cap of $19,800.00, a PE ratio of 26.11, a PEG ratio of 1.20 and a beta of 2.21.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.16%.

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

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