Devon Energy Corporation (DVN) to Issue Quarterly Dividend of $0.24 on March 31st

Devon Energy Corporation (NYSE:DVN) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.24 per share by the energy company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th.

Devon Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Devon Energy has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Devon Energy to earn $5.00 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 19.2%.

Devon Energy Trading Down 2.5%

Shares of NYSE DVN opened at $43.69 on Wednesday. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $46.15. The firm has a market capitalization of $27.09 billion, a P/E ratio of 10.48, a P/E/G ratio of 4.54 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The company’s 50 day simple moving average is $40.75 and its 200 day simple moving average is $37.03.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. On average, analysts predict that Devon Energy will post 4.85 EPS for the current year.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.