Capital One Financial Brokers Decrease Earnings Estimates for Devon Energy Corp (NYSE:DVN)

Devon Energy Corp (NYSE:DVN) – Stock analysts at Capital One Financial decreased their FY2020 EPS estimates for Devon Energy in a research report issued to clients and investors on Wednesday, November 6th. Capital One Financial analyst P. Johnston now expects that the energy company will post earnings of $1.36 per share for the year, down from their prior forecast of $2.10.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.08%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share.

DVN has been the subject of a number of other research reports. MKM Partners set a $32.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on shares of Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Wells Fargo & Co boosted their price objective on shares of Devon Energy from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Guggenheim set a $35.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Citigroup cut their price target on shares of Devon Energy from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.19.

NYSE:DVN traded up $0.23 during trading hours on Friday, reaching $22.91. The company’s stock had a trading volume of 5,696,646 shares, compared to its average volume of 7,166,818. The company has a market capitalization of $9.29 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35. Devon Energy has a 12 month low of $19.72 and a 12 month high of $35.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day moving average price of $22.20 and a two-hundred day moving average price of $25.68.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, December 12th. Devon Energy’s dividend payout ratio (DPR) is presently 27.91%.

In other news, CAO Jeremy D. Humphers sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total transaction of $32,490.00. Following the sale, the chief accounting officer now directly owns 42,475 shares of the company’s stock, valued at $920,008.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of DVN. Usca Ria LLC purchased a new stake in Devon Energy in the third quarter valued at $29,000. North Star Investment Management Corp. acquired a new position in shares of Devon Energy in the third quarter worth about $43,000. Westside Investment Management Inc. acquired a new position in shares of Devon Energy in the second quarter worth about $45,000. Advisory Services Network LLC raised its position in shares of Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock worth $48,000 after acquiring an additional 516 shares during the period. Finally, CSat Investment Advisory L.P. raised its position in shares of Devon Energy by 88.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock worth $49,000 after acquiring an additional 814 shares during the period. 85.88% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Devon Energy (NYSE:DVN)

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