Devon Energy Corp (NYSE:DVN) – Research analysts at Piper Jaffray Companies upped their Q1 2019 earnings per share estimates for Devon Energy in a research report issued to clients and investors on Monday, March 18th. Piper Jaffray Companies analyst R. Todd now anticipates that the energy company will post earnings per share of $0.19 for the quarter, up from their previous forecast of $0.08. Piper Jaffray Companies also issued estimates for Devon Energy’s Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.58 EPS, FY2019 earnings at $1.61 EPS, Q1 2020 earnings at $0.59 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.64 EPS and FY2020 earnings at $2.41 EPS.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 19th. The energy company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.21). The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $1.97 billion. Devon Energy had a return on equity of 5.73% and a net margin of 24.82%. During the same quarter last year, the company earned $0.38 EPS.
DVN opened at $31.25 on Thursday. The stock has a market cap of $13.25 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 1.76 and a beta of 2.25. Devon Energy has a fifty-two week low of $20.37 and a fifty-two week high of $46.54. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63.
Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Devon Energy by 1.6% in the fourth quarter. FMR LLC now owns 11,817,254 shares of the energy company’s stock valued at $266,361,000 after acquiring an additional 183,453 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Devon Energy by 2.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 9,437,292 shares of the energy company’s stock valued at $376,925,000 after acquiring an additional 235,596 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Devon Energy by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 7,424,556 shares of the energy company’s stock valued at $167,350,000 after acquiring an additional 644,373 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Devon Energy by 31.0% in the fourth quarter. American Century Companies Inc. now owns 6,641,322 shares of the energy company’s stock valued at $149,695,000 after acquiring an additional 1,571,861 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Devon Energy by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 6,558,033 shares of the energy company’s stock valued at $147,570,000 after acquiring an additional 242,508 shares in the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.
In related news, Director Robert H. Henry acquired 11,651 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the acquisition, the director now directly owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Devon Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. Devon Energy’s dividend payout ratio (DPR) is 24.81%.
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 and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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