Devon Energy Corp (NYSE:DVN) – Equities researchers at SunTrust Banks lifted their Q4 2019 earnings per share (EPS) estimates for shares of Devon Energy in a research note issued on Wednesday, November 27th. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings per share of $0.32 for the quarter, up from their previous forecast of $0.31. SunTrust Banks also issued estimates for Devon Energy’s Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $1.81 EPS, Q1 2021 earnings at $0.50 EPS, Q2 2021 earnings at $0.49 EPS, Q3 2021 earnings at $0.52 EPS and FY2021 earnings at $2.06 EPS.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.37%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.63 EPS.

Several other analysts have also recently commented on the company. Citigroup decreased their target price on Devon Energy from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Mitsubishi UFJ Financial Group upped their price target on Devon Energy to $36.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Guggenheim set a $35.00 price target on Devon Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Co increased their price objective on Devon Energy from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.32.

Shares of NYSE:DVN opened at $21.41 on Monday. The company’s fifty day moving average is $21.71 and its two-hundred day moving average is $24.50. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.66. Devon Energy has a 12-month low of $19.72 and a 12-month high of $35.39. The company has a market cap of $8.23 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.83 and a beta of 2.37.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given 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 1.68%. Devon Energy’s payout ratio is 27.91%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Usca Ria LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at $29,000. North Star Investment Management Corp. bought a new position in Devon Energy during the third quarter valued at about $43,000. Westside Investment Management Inc. bought a new position in Devon Energy during the second quarter valued at about $45,000. Advisory Services Network LLC lifted 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 worth $48,000 after buying an additional 516 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted 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 worth $49,000 after buying an additional 814 shares during the last quarter. Hedge funds and other institutional investors own 87.82% of the company’s stock.

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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Earnings History and Estimates for Devon Energy (NYSE:DVN)

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