Analysts expect Devon Energy Corp (NYSE:DVN) to post sales of $2.22 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Devon Energy’s earnings, with estimates ranging from $2.09 billion to $2.55 billion. Devon Energy reported sales of $2.25 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that Devon Energy will report full-year sales of $7.31 billion for the current year, with estimates ranging from $5.48 billion to $9.04 billion. For the next year, analysts expect that the business will post sales of $8.01 billion, with estimates ranging from $5.31 billion to $11.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Devon Energy.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.20 EPS.
In other Devon Energy news, CAO Jeremy D. Humphers sold 4,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $25.40, for a total transaction of $101,600.00. Following the sale, the chief accounting officer now owns 81,914 shares of the company’s stock, valued at approximately $2,080,615.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. LS Investment Advisors LLC raised its holdings in Devon Energy by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 20,155 shares of the energy company’s stock worth $636,000 after buying an additional 334 shares during the period. Intrust Bank NA boosted its position in Devon Energy by 3.3% during the first quarter. Intrust Bank NA now owns 11,521 shares of the energy company’s stock worth $363,000 after purchasing an additional 366 shares during the period. Meeder Asset Management Inc. boosted its position in Devon Energy by 94.6% during the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock worth $26,000 after purchasing an additional 400 shares during the period. Zions Bancorporation N.A. boosted its position in Devon Energy by 6.4% during the second quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock worth $209,000 after purchasing an additional 440 shares during the period. Finally, Chartwell Investment Partners LLC boosted its position in Devon Energy by 1.0% during the first quarter. Chartwell Investment Partners LLC now owns 62,814 shares of the energy company’s stock worth $1,982,000 after purchasing an additional 595 shares during the period. 84.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DVN stock traded up $0.12 during trading hours on Friday, reaching $27.00. 5,851,728 shares of the stock traded hands, compared to its average volume of 7,029,381. Devon Energy has a 1-year low of $20.37 and a 1-year high of $45.29. The firm has a fifty day moving average of $27.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.26 and a beta of 2.28.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 12th. Devon Energy’s dividend payout ratio is currently 27.91%.
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 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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