Analysts forecast that Devon Energy Corp (NYSE:DVN) will post ($0.25) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Devon Energy’s earnings, with the lowest EPS estimate coming in at ($0.58) and the highest estimate coming in at ($0.12). Devon Energy posted earnings per share of $0.43 during the same quarter last year, which indicates a negative year over year growth rate of 158.1%. The firm is expected to report its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Devon Energy will report full-year earnings of ($0.45) per share for the current year, with EPS estimates ranging from ($1.46) to ($0.04). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.42) per share, with EPS estimates ranging from ($1.28) to $0.42. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Devon Energy.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 5th. The energy company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.31. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.47 billion. Devon Energy had a negative net margin of 24.91% and a positive return on equity of 7.81%. The business’s revenue was up 93.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share.

Several research firms recently weighed in on DVN. Susquehanna Bancshares lifted their price objective on Devon Energy from $12.00 to $13.00 in a report on Wednesday, May 6th. Piper Sandler downgraded Devon Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $6.00 in a report on Tuesday, March 24th. Mizuho lifted their price objective on Devon Energy from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America lifted their price objective on Devon Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Goldman Sachs Group upgraded Devon Energy from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $10.00 in a report on Monday, March 16th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.00.

Shares of DVN traded down $0.01 during trading hours on Friday, reaching $12.42. 515,760 shares of the company traded hands, compared to its average volume of 9,377,182. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -2.48 and a beta of 3.43. Devon Energy has a 12-month low of $4.70 and a 12-month high of $31.28. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.06. The stock’s fifty day moving average price is $10.29 and its 200 day moving average price is $18.05.

A number of hedge funds and other institutional investors have recently modified their holdings of DVN. Advisory Alpha LLC purchased a new stake in Devon Energy in the first quarter valued at approximately $25,000. Duncker Streett & Co. Inc. purchased a new stake in Devon Energy in the fourth quarter valued at approximately $31,000. Morgan Dempsey Capital Management LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $33,000. NEXT Financial Group Inc purchased a new stake in Devon Energy in the fourth quarter valued at approximately $36,000. Finally, CFM Wealth Partners LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.37% of the company’s stock.

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

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