FY2025 EPS Estimates for Devon Energy Raised by Scotiabank

Devon Energy Co. (NYSE:DVN - Free Report) - Equities researchers at Scotiabank increased their FY2025 earnings per share estimates for shares of Devon Energy in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now expects that the energy company will post earnings of $4.50 per share for the year, up from their previous forecast of $4.20. The consensus estimate for Devon Energy's current full-year earnings is $4.85 per share. Scotiabank also issued estimates for Devon Energy's FY2026 earnings at $4.95 EPS.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion.

Several other research analysts have also recently issued reports on the company. Cowen cut Devon Energy to a "hold" rating and cut their price objective for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Citigroup reduced their price target on Devon Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Barclays raised their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and a consensus price target of $48.46.

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Devon Energy Stock Down 0.1 %

Devon Energy stock traded down $0.03 during midday trading on Monday, reaching $36.94. The company's stock had a trading volume of 2,735,938 shares, compared to its average volume of 7,845,709. The business has a 50-day simple moving average of $35.46 and a 200-day simple moving average of $36.95. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $23.97 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is presently 21.05%.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC increased its position in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after acquiring an additional 1,038,305 shares during the last quarter. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the 3rd quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new stake in Devon Energy in the 3rd quarter valued at about $408,653,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Devon Energy by 42.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

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.