Devon Energy Corp (NYSE:DVN) – Research analysts at Capital One Financial reduced their FY2019 earnings per share (EPS) estimates for shares of Devon Energy in a report released on Wednesday, May 1st. Capital One Financial analyst P. Johnston now expects that the energy company will post earnings of $2.48 per share for the year, down from their previous estimate of $2.52.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, April 30th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.06. Devon Energy had a net margin of 29.33% and a return on equity of 6.69%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company posted $0.20 earnings per share.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada set a $42.00 price target on shares of Devon Energy and gave the company a “hold” rating in a research note on Thursday. Macquarie set a $40.00 price target on shares of Devon Energy and gave the company a “buy” rating in a research note on Thursday. ValuEngine lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Thursday, April 18th. Finally, Barclays restated a “hold” rating and issued a $36.00 price target on shares of Devon Energy in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $45.29.

Shares of NYSE:DVN opened at $30.84 on Friday. Devon Energy has a 52 week low of $20.37 and a 52 week high of $46.54. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.96 and a beta of 2.24. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63.

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in Devon Energy by 1.6% in the fourth quarter. FMR LLC now owns 11,817,254 shares of the energy company’s stock worth $266,361,000 after buying an additional 183,453 shares during the last quarter. Victory Capital Management Inc. grew its position in Devon Energy by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 7,424,556 shares of the energy company’s stock worth $167,350,000 after buying an additional 644,373 shares during the last quarter. American Century Companies Inc. grew its position in Devon Energy by 31.0% in the fourth quarter. American Century Companies Inc. now owns 6,641,322 shares of the energy company’s stock worth $149,695,000 after buying an additional 1,571,861 shares during the last quarter. Geode Capital Management LLC grew its position in Devon Energy by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 6,558,033 shares of the energy company’s stock worth $147,570,000 after buying an additional 242,508 shares during the last quarter. Finally, Norges Bank acquired a new position in Devon Energy in the fourth quarter worth approximately $109,799,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

In related news, Director Robert H. Henry acquired 11,651 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average price of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the purchase, the director now directly owns 21,355 shares of the company’s stock, valued at $640,863.55. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.08. Devon Energy’s dividend payout ratio (DPR) is currently 24.81%.

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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