Devon Energy Corp (NYSE:DVN) Forecasted to Post FY2019 Earnings of $1.29 Per Share

Devon Energy Corp (NYSE:DVN) – Analysts at Piper Jaffray Companies boosted their FY2019 earnings estimates for Devon Energy in a research note issued to investors on Tuesday, November 5th. Piper Jaffray Companies analyst R. Todd now forecasts that the energy company will post earnings of $1.29 per share for the year, up from their previous estimate of $1.16. Piper Jaffray Companies also issued estimates for Devon Energy’s Q1 2020 earnings at $0.32 EPS.

Several other equities research analysts also recently weighed in on the stock. MKM Partners set a $32.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research note on Monday, August 12th. Wells Fargo & Co increased their target price 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. Goldman Sachs Group restated a “sell” rating and issued a $25.50 price objective on shares of Devon Energy in a research report on Tuesday, July 23rd. Seaport Global Securities downgraded shares of Devon Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, Mitsubishi UFJ Financial Group raised their price objective on shares of Devon Energy to $36.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two 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 an average rating of “Hold” and a consensus target price of $36.19.

Shares of DVN opened at $22.91 on Friday. Devon Energy has a fifty-two week low of $19.72 and a fifty-two week high of $35.39. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35. The firm has a 50-day simple moving average of $22.20 and a 200-day simple moving average of $25.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 1.49.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, topping the 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 business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share.

Institutional investors have recently modified their holdings of the business. Usca Ria LLC purchased a new position in Devon Energy in the third quarter valued at about $29,000. Westside Investment Management Inc. purchased a new position in Devon Energy in the second quarter valued at about $45,000. Advisory Services Network LLC increased its holdings in Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after buying an additional 516 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in 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 valued at $49,000 after buying an additional 814 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Devon Energy in the third quarter valued at about $43,000. 85.88% of the stock is owned by institutional investors.

In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the completion of the transaction, 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 SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.

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

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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