FY2027 EPS Estimates for Devon Energy Lowered by Scotiabank

Devon Energy Corporation (NYSE:DVN) – Research analysts at Scotiabank dropped their FY2027 earnings estimates for shares of Devon Energy in a research report issued on Thursday, February 26th. Scotiabank analyst P. Cheng now anticipates that the energy company will earn $2.75 per share for the year, down from their previous estimate of $3.05. Scotiabank has a “Sector Perform” rating and a $41.00 price objective on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share.

DVN has been the topic of a number of other reports. Capital One Financial dropped their price target on Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Raymond James Financial increased their target price on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Zacks Research downgraded Devon Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Finally, Siebert Williams Shank raised their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Twenty-three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $47.37.

Devon Energy Trading Up 2.2%

NYSE:DVN opened at $43.59 on Monday. The company has a market cap of $27.02 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 4.22 and a beta of 0.56. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $39.63 and a two-hundred day simple moving average of $36.52. Devon Energy has a 12 month low of $25.89 and a 12 month high of $46.15.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.2%. Devon Energy’s payout ratio is currently 23.02%.

Institutional Trading of Devon Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. MidFirst Bank bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $927,000. SG Trading Solutions LLC purchased a new position in Devon Energy during the fourth quarter valued at $891,000. Pacer Advisors Inc. increased its holdings in Devon Energy by 2,108.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after acquiring an additional 6,097,658 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Devon Energy in the 4th quarter worth $29,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Devon Energy in the 4th quarter worth $745,000. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.