Equities research analysts forecast that Devon Energy Corporation (NYSE:DVN) will announce earnings of $0.44 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Devon Energy Corporation’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.30. Devon Energy Corporation posted earnings per share of $0.09 during the same quarter last year, which would indicate a positive year-over-year growth rate of 388.9%. The company is scheduled to issue its next earnings report on Tuesday, November 7th.

On average, analysts expect that Devon Energy Corporation will report full-year earnings of $1.68 per share for the current financial year, with EPS estimates ranging from $1.22 to $2.27. For the next financial year, analysts forecast that the company will post earnings of $2.00 per share, with EPS estimates ranging from $0.74 to $3.27. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Devon Energy Corporation.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS.

A number of research analysts recently weighed in on DVN shares. Barclays PLC restated an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a report on Thursday. Royal Bank Of Canada set a $53.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Monday, May 29th. BidaskClub upgraded shares of Devon Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Bank of America Corporation restated a “buy” rating on shares of Devon Energy Corporation in a report on Thursday, May 11th. Finally, Piper Jaffray Companies started coverage on shares of Devon Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Devon Energy Corporation currently has an average rating of “Buy” and a consensus price target of $47.71.

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Several hedge funds have recently modified their holdings of DVN. Exencial Wealth Advisors LLC increased its stake in shares of Devon Energy Corporation by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock valued at $511,000 after buying an additional 46 shares in the last quarter. Park National Corp OH increased its stake in shares of Devon Energy Corporation by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock valued at $217,000 after buying an additional 54 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in shares of Devon Energy Corporation by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock valued at $225,000 after buying an additional 96 shares in the last quarter. Wedbush Securities Inc. increased its stake in shares of Devon Energy Corporation by 1.1% in the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after buying an additional 99 shares in the last quarter. Finally, Fernwood Investment Management LLC increased its stake in shares of Devon Energy Corporation by 1.4% in the first quarter. Fernwood Investment Management LLC now owns 7,200 shares of the energy company’s stock valued at $300,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.22% of the company’s stock.

Devon Energy Corporation (NYSE:DVN) traded up 4.31% during midday trading on Friday, reaching $33.66. 7,148,390 shares of the company’s stock traded hands. The firm’s 50-day moving average is $31.57 and its 200-day moving average is $38.48. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 7.55 and a beta of 2.17.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.

Devon Energy Corporation Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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

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