Wall Street brokerages expect Devon Energy Co. (NYSE: DVN) to report earnings per share (EPS) of $ 0.91 for the current fiscal quarter, Zacks reports. Four analysts provided estimates for Devon Energy’s earnings, with the lowest EPS estimate at $ 0.82 and the highest estimate at $ 1.09. Devon Energy reported earnings of ($ 0.04) per share for the same quarter last year, which would suggest a positive year-over-year growth rate of 2,375%. The company is expected to release its next quarterly results after the market closes on Tuesday, November 2.
On average, analysts expect Devon Energy to report annual earnings of $ 2.90 per share for the current fiscal year, with EPS estimates ranging from $ 2.36 to $ 3.36. For the next fiscal year, analysts predict the company will post earnings of $ 4.29 per share, with EPS estimates ranging from $ 3.06 to $ 5.45. Zacks Investment Research earnings per share averages are an average based on a survey of analysts who cover Devon Energy.
Devon Energy (NYSE: DVN) last reported its quarterly results on Tuesday, August 3. The energy company reported earnings per share (EPS) of $ 0.60 for the quarter, beating the consensus estimate of $ 0.53 by $ 0.07. The company posted revenue of $ 2.42 billion in the quarter, compared to a consensus estimate of $ 2.38 billion. Devon Energy had a net margin of 4.21% and a return on equity of 11.95%.
Several research analysts recently commented on DVN stocks. Sanford C. Bernstein upgraded Devon Energy from a “market performance” rating to an “outperformance” rating and raised its target share price from $ 27.00 to $ 37.00 in a rating. search Monday June 21. Raymond James reiterated a “strong buy” note and issued a price target of $ 26.10 (up from 40.00 previously) on Devon Energy shares in a research report published on Tuesday July 27. Zacks Investment Research downgraded Devon Energy from a “strong buy” rating to a “hold” rating and set a target price of $ 32.00 for the stock. in a research report on Friday, September 17. Truist Securities raised its price target on Devon Energy from $ 42.00 to $ 52.00 and gave the stock a “buy” rating in a research note on Thursday, October 7. Finally, Wells Fargo & Company raised its price target on Devon Energy from $ 39.00 to $ 42.00 and gave the company an “overweight” rating in a research report published on Wednesday, October 6. Three research analysts rated the stock with a conservation rating, seventeen assigned a buy rating, and one issued a strong buy rating for the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $ 32.18.
NYSE DVN shares opened at $ 40.10 on Friday. The company has a fifty-day simple moving average of $ 31.51 and a 200-day simple moving average of $ 27.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt ratio of 0.76. The company has a market cap of $ 27.15 billion, a price-to-earnings ratio of 222.79, a PEG ratio of 0.32 and a beta of 3.37. Devon Energy has a one-year low of $ 7.73 and a one-year high of $ 40.98.
The company also recently announced a dividend of None, which was paid on Thursday, September 30. Shareholders of record on Monday, September 13 received a dividend of $ 0.49 per share. The ex-dividend date of this dividend was Friday September 10. This represents a yield of 1.7%. Devon Energy’s payout ratio is currently -488.89%.
Hedge funds and other institutional investors have recently changed their holdings of stocks. Bogart Wealth LLC purchased a new position in Devon Energy during the third quarter valued at approximately $ 36,000. Fifth Third Bancorp increased its stake in Devon Energy shares by 10.3% during the third quarter. Fifth Third Bancorp now owns 18,789 shares of the energy company valued at $ 667,000 after acquiring an additional 1,752 shares during the period. Meridian Wealth Management LLC purchased a new stake in Devon Energy in the third quarter for a value of $ 1,146,000. DNB Asset Management AS increased its stake in Devon Energy by 8.0% in the 3rd quarter. DNB Asset Management AS now owns 77,126 shares of the energy company valued at $ 2,739,000 after purchasing an additional 5,734 shares during the period. Finally, Great Valley Advisor Group Inc. increased its position in Devon Energy shares by 23.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,905 shares of the energy company valued at $ 423,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds hold 86.42% of the company’s shares.
About Devon Energy
Devon Energy Corp. is engaged in the exploration, development and production of oil and gas properties. It develops and operates the Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.
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