Devon Energy (NYSE:DVN) Issues Earnings Results

Devon Energy (NYSE:DVN - Get Free Report) announced its quarterly earnings data on Tuesday. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16, Zacks reports. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion.

Devon Energy Stock Down 2.8 %

Shares of DVN traded down $1.07 on Friday, reaching $37.49. The company's stock had a trading volume of 11,086,033 shares, compared to its average volume of 9,776,215. The stock has a market capitalization of $24.62 billion, a PE ratio of 8.22, a PEG ratio of 1.17 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy has a twelve month low of $30.39 and a twelve month high of $55.09. The firm has a fifty day moving average of $34.40 and a 200-day moving average of $38.40.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

DVN has been the subject of several recent analyst reports. Wolfe Research upgraded Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Cowen downgraded Devon Energy to a "hold" rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Tuesday. Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Piper Sandler increased their target price on Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Barclays increased their target price on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.83.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.