Devon Energy Corp (NYSE:DVN) – Investment analysts at B. Riley decreased their Q4 2018 earnings per share (EPS) estimates for shares of Devon Energy in a research report issued on Wednesday, November 21st. B. Riley analyst R. Rashid now anticipates that the energy company will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.29.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.21. Devon Energy had a net margin of 16.62% and a return on equity of 6.40%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year.
DVN stock opened at $26.91 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.48. Devon Energy has a one year low of $26.80 and a one year high of $46.54. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 1.46 and a beta of 2.27.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. Devon Energy’s payout ratio is presently 50.79%.
Several institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its position in Devon Energy by 10.7% during the second quarter. Xact Kapitalforvaltning AB now owns 58,934 shares of the energy company’s stock worth $2,591,000 after purchasing an additional 5,713 shares during the period. Cornerstone Wealth Management LLC bought a new stake in Devon Energy during the second quarter worth about $1,288,000. Creative Planning lifted its position in Devon Energy by 21.8% during the second quarter. Creative Planning now owns 25,601 shares of the energy company’s stock worth $1,125,000 after purchasing an additional 4,589 shares during the period. Intact Investment Management Inc. bought a new stake in Devon Energy during the second quarter worth about $418,000. Finally, BNP Paribas Arbitrage SA lifted its position in Devon Energy by 10.7% during the second quarter. BNP Paribas Arbitrage SA now owns 367,456 shares of the energy company’s stock worth $16,153,000 after purchasing an additional 35,445 shares during the period. 86.64% of the stock is owned by institutional investors.
About Devon Energy
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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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