Devon Energy (DVN) Set to Announce Quarterly Earnings on Wednesday

Devon Energy (NYSE:DVN) will be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.11 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. On average, analysts expect Devon Energy to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Devon Energy Stock Up 0.8 %

Shares of NYSE DVN opened at $52.57 on Wednesday. Devon Energy has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $48.30 and its 200 day simple moving average is $46.05. The company has a market cap of $33.38 billion, a price-to-earnings ratio of 9.02 and a beta of 2.19.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.35%. Devon Energy’s dividend payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Truist Financial lifted their price target on shares of Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler lifted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Susquehanna increased their price objective on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a report on Monday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.