Wall Street brokerages expect Devon Energy Corp (NYSE:DVN) to post $0.31 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have issued estimates for Devon Energy’s earnings, with estimates ranging from $0.10 to $0.51. Devon Energy reported earnings per share of $0.38 in the same quarter last year, which suggests a negative year-over-year growth rate of 18.4%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, February 19th.
According to Zacks, analysts expect that Devon Energy will report full year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.43 to $1.74. For the next year, analysts anticipate that the firm will post earnings of $1.31 per share, with EPS estimates ranging from $0.16 to $2.49. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Devon Energy.
A number of equities analysts have weighed in on the stock. Seaport Global Securities reaffirmed a “buy” rating on shares of Devon Energy in a research note on Wednesday, October 17th. Mizuho set a $31.00 price target on shares of Devon Energy and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Barclays downgraded shares of Devon Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $42.00 to $33.00 in a research note on Wednesday, January 16th. Zacks Investment Research downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Stephens assumed coverage on shares of Devon Energy in a research note on Thursday, December 6th. They set an “overweight” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.36.
Institutional investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. purchased a new stake in Devon Energy during the 4th quarter worth $26,000. Lindbrook Capital LLC purchased a new stake in Devon Energy during the 4th quarter worth $26,000. Duncker Streett & Co. Inc. increased its stake in Devon Energy by 40.5% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after buying an additional 461 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Devon Energy by 2,129.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock worth $57,000 after buying an additional 1,217,716 shares during the period. Finally, Quattro Financial Advisors LLC purchased a new stake in Devon Energy during the 4th quarter worth $65,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:DVN opened at $26.91 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.65. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 1.52 and a beta of 2.23. Devon Energy has a fifty-two week low of $20.37 and a fifty-two week high of $46.54.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 50.79%.
About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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