Devon Energy (NYSE:DVN – Get Rating) is scheduled to be announcing its earnings results after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of $1.53 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.
Devon Energy (NYSE:DVN – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The energy company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Devon Energy had a return on equity of 26.76% and a net margin of 23.60%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates 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.
NYSE DVN opened at $58.07 on Monday. Devon Energy has a 52 week low of $20.88 and a 52 week high of $65.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $58.81 and its 200-day simple moving average is $49.62. The firm has a market cap of $38.57 billion, a PE ratio of 13.93, a P/E/G ratio of 0.15 and a beta of 2.79.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 14th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend was Friday, March 11th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.84. Devon Energy’s payout ratio is currently 95.92%.
Several analysts recently issued reports on the stock. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Mizuho boosted their price objective on shares of Devon Energy from $61.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, March 31st. Truist Financial boosted their price objective on shares of Devon Energy from $80.00 to $91.00 in a report on Thursday. Barclays boosted their price objective on shares of Devon Energy from $51.00 to $73.00 in a report on Friday, March 18th. Finally, Piper Sandler boosted their price objective on shares of Devon Energy from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, April 7th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $60.89.
In other Devon Energy news, CAO Jeremy D. Humphers sold 19,000 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $59.42, for a total value of $1,128,980.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann G. Fox sold 9,027 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $58.67, for a total transaction of $529,614.09. The disclosure for this sale can be found here. Insiders sold a total of 164,251 shares of company stock valued at $9,827,922 in the last quarter. Company insiders own 0.59% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Paradigm Financial Partners LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at $408,000. Comerica Bank grew its position in shares of Devon Energy by 12.9% in the 4th quarter. Comerica Bank now owns 202,499 shares of the energy company’s stock valued at $10,380,000 after buying an additional 23,211 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Devon Energy by 176.4% in the 4th quarter. NewEdge Advisors LLC now owns 49,884 shares of the energy company’s stock valued at $2,197,000 after buying an additional 31,834 shares during the last quarter. Allianz Asset Management GmbH grew 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 buying an additional 91,651 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC grew its position in shares of Devon Energy by 0.9% in the 4th quarter. Strategic Wealth Advisors Group LLC now owns 44,120 shares of the energy company’s stock valued at $1,944,000 after buying an additional 381 shares during the last quarter. 88.11% of the stock is currently owned by institutional investors.
About Devon Energy (Get Rating)
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.
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