Devon Energy Corporation (DVN) Expected to Announce Quarterly Sales of $3.57 Billion
Analysts predict that Devon Energy Corporation (NYSE:DVN) will announce $3.57 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Devon Energy’s earnings. The lowest sales estimate is $3.55 billion and the highest is $3.60 billion. Devon Energy reported sales of $3.35 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 13th.
According to Zacks, analysts expect that Devon Energy will report full year sales of $3.57 billion for the current year, with estimates ranging from $13.30 billion to $13.53 billion. For the next year, analysts forecast that the company will post sales of $14.76 billion per share, with estimates ranging from $13.93 billion to $15.68 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Devon Energy.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 earnings per share.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the transaction, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Sterneck Capital Management LLC grew its stake in Devon Energy by 4.5% during the second quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock valued at $208,000 after acquiring an additional 283 shares in the last quarter. First Allied Advisory Services Inc. grew its stake in Devon Energy by 9.4% during the second quarter. First Allied Advisory Services Inc. now owns 6,572 shares of the energy company’s stock valued at $214,000 after acquiring an additional 562 shares in the last quarter. Pacer Advisors Inc. grew its stake in Devon Energy by 8.5% during the second quarter. Pacer Advisors Inc. now owns 11,870 shares of the energy company’s stock valued at $379,000 after acquiring an additional 928 shares in the last quarter. M&T Bank Corp grew its stake in Devon Energy by 3.0% in the 2nd quarter. M&T Bank Corp now owns 40,120 shares of the energy company’s stock worth $1,282,000 after buying an additional 1,170 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC grew its stake in Devon Energy by 7.7% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 16,750 shares of the energy company’s stock worth $535,000 after buying an additional 1,200 shares in the last quarter. 77.43% of the stock is owned by institutional investors.
Shares of Devon Energy (NYSE:DVN) opened at $42.23 on Wednesday. The company has a market cap of $22,190.00, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.29 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. Devon Energy has a 12-month low of $28.79 and a 12-month high of $49.45.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.57%. 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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