Devon Energy (NYSE:DVN – Get Rating) will issue its quarterly earnings data after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of $1.53 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.
Devon Energy (NYSE:DVN – Get Rating) last posted its quarterly earnings data on Tuesday, February 15th. The energy company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.18. Devon Energy had a net margin of 23.60% and a return on equity of 26.76%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $3.56 billion. On average, analysts expect Devon Energy to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.
DVN stock opened at $58.07 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.69. Devon Energy has a twelve month low of $20.88 and a twelve month high of $65.45. The stock has a market capitalization of $38.57 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.15 and a beta of 2.79. The firm’s fifty day simple moving average is $58.81 and its two-hundred day simple moving average is $49.62.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Monday, March 14th were given a dividend of $1.00 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Friday, March 11th. This represents a $4.00 dividend on an annualized basis and a yield of 6.89%. Devon Energy’s payout ratio is 95.92%.
In related news, EVP Dennis C. Cameron sold 8,626 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $53.68, for a total value of $463,043.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tana K. Cashion sold 17,455 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $58.41, for a total transaction of $1,019,546.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,251 shares of company stock valued at $9,827,922. Insiders own 0.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in DVN. Allianz Asset Management GmbH raised its position in shares of Devon Energy by 22.1% in the 4th quarter. Allianz Asset Management GmbH now owns 506,711 shares of the energy company’s stock valued at $22,310,000 after purchasing an additional 91,651 shares during the last quarter. Allstate Corp acquired a new position in Devon Energy in the 4th quarter worth approximately $2,317,000. Cubist Systematic Strategies LLC increased its holdings in Devon Energy by 292.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 61,553 shares of the energy company’s stock worth $2,711,000 after buying an additional 45,853 shares during the period. NewEdge Advisors LLC increased its holdings in Devon Energy by 176.4% in the 4th quarter. NewEdge Advisors LLC now owns 49,884 shares of the energy company’s stock worth $2,197,000 after buying an additional 31,834 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Devon Energy by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,453,878 shares of the energy company’s stock worth $64,043,000 after buying an additional 24,895 shares during the period. 88.11% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. Bank of America cut shares of Devon Energy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $57.00 in a report on Monday, January 10th. Barclays upped their price target on shares of Devon Energy from $51.00 to $73.00 in a report on Friday, March 18th. Morgan Stanley upped their price target on shares of Devon Energy from $54.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a report on Thursday, March 10th. Finally, The Goldman Sachs Group cut shares of Devon Energy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $52.00 in a report on Friday, January 21st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Devon Energy has an average rating of “Buy” and an average price target of $60.89.
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. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.