Devon Energy Corp (NYSE:DVN) – Equities research analysts at B. Riley cut their Q3 2018 earnings per share estimates for shares of Devon Energy in a report released on Thursday, October 18th. B. Riley analyst R. Rashid now anticipates that the energy company will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.34. B. Riley also issued estimates for Devon Energy’s Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $1.11 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.65 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.71 EPS and FY2019 earnings at $2.65 EPS.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, July 31st. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Devon Energy had a positive return on equity of 5.52% and a negative net margin of 1.60%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company earned $0.80 EPS.

Several other research analysts also recently weighed in on DVN. ValuEngine upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Morgan Stanley started coverage on shares of Devon Energy in a research report on Thursday, July 12th. They set an “equal weight” rating and a $46.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating on shares of Devon Energy in a report on Friday, July 13th. Bank of America increased their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 16th. Finally, Jefferies Financial Group set a $53.00 price objective on shares of Devon Energy and gave the company a “buy” rating in a report on Wednesday, July 18th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.78.

DVN opened at $34.94 on Friday. Devon Energy has a twelve month low of $29.83 and a twelve month high of $46.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $18.32 billion, a P/E ratio of 55.46, a P/E/G ratio of 1.41 and a beta of 2.26.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. Devon Energy’s dividend payout ratio is currently 50.79%.

In other news, Director Robert H. Henry sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $42.14, for a total transaction of $235,984.00. Following the completion of the sale, the director now owns 9,704 shares in the company, valued at approximately $408,926.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Devon Energy by 0.5% during the 2nd quarter. BlackRock Inc. now owns 48,631,367 shares of the energy company’s stock worth $2,137,835,000 after buying an additional 235,109 shares during the last quarter. FMR LLC increased its holdings in shares of Devon Energy by 11.1% during the 2nd quarter. FMR LLC now owns 11,782,553 shares of the energy company’s stock worth $517,962,000 after buying an additional 1,173,389 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Devon Energy by 16.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 9,201,696 shares of the energy company’s stock worth $404,507,000 after buying an additional 1,316,231 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,669,095 shares of the energy company’s stock worth $161,278,000 after buying an additional 161,232 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Devon Energy by 8.9% during the 2nd quarter. Swiss National Bank now owns 1,738,426 shares of the energy company’s stock worth $76,421,000 after buying an additional 142,600 shares during the last quarter. Institutional investors and hedge funds own 84.06% 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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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

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