Devon Energy Corp (NYSE:DVN) – Investment analysts at Piper Jaffray Companies upped their FY2019 EPS estimates for Devon Energy in a research report issued on Tuesday, November 5th. Piper Jaffray Companies analyst R. Todd now forecasts that the energy company will post earnings of $1.29 per share for the year, up from their prior estimate of $1.16. Piper Jaffray Companies also issued estimates for Devon Energy’s Q1 2020 earnings at $0.32 EPS.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.08%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm earned $0.63 EPS.
Several other research analysts have also weighed in on DVN. ValuEngine raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Guggenheim set a $35.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. Mitsubishi UFJ Financial Group raised their target price on shares of Devon Energy to $36.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Goldman Sachs Group restated a “sell” rating and set a $25.50 target price on shares of Devon Energy in a report on Tuesday, July 23rd. Finally, SunTrust Banks assumed coverage on shares of Devon Energy in a report on Tuesday, July 30th. They set a “buy” rating and a $33.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.19.
Devon Energy stock traded up $0.16 during midday trading on Friday, hitting $22.84. 268,666 shares of the stock were exchanged, compared to its average volume of 7,788,971. The company has a fifty day simple moving average of $22.27 and a two-hundred day simple moving average of $25.73. Devon Energy has a 52 week low of $19.72 and a 52 week high of $35.39. The stock has a market capitalization of $9.29 billion, a PE ratio of 17.73, a P/E/G ratio of 1.50 and a beta of 2.35. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.61.
A number of institutional investors and hedge funds have recently modified their holdings of DVN. Usca Ria LLC bought a new position in Devon Energy during the third quarter worth $29,000. Westside Investment Management Inc. bought a new stake in shares of Devon Energy in the second quarter valued at about $45,000. Advisory Services Network LLC boosted its position in shares of Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after acquiring an additional 516 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of Devon Energy by 88.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock valued at $49,000 after acquiring an additional 814 shares during the period. Finally, North Star Investment Management Corp. bought a new stake in shares of Devon Energy in the third quarter valued at about $43,000. Institutional investors and hedge funds own 85.88% of the company’s stock.
In related news, CAO Jeremy D. Humphers sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total transaction of $32,490.00. Following the transaction, the chief accounting officer now directly owns 42,475 shares in the company, valued at $920,008.50. The sale was disclosed in a filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.58%. Devon Energy’s payout ratio is 27.91%.
Devon Energy Company Profile
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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