Devon Energy Co. (NYSE:DVN - Free Report) - Equities research analysts at Zacks Research upped their FY2024 earnings estimates for shares of Devon Energy in a research report issued to clients and investors on Tuesday, August 20th. Zacks Research analyst J. Saha now anticipates that the energy company will post earnings of $5.40 per share for the year, up from their prior forecast of $5.26. The consensus estimate for Devon Energy's current full-year earnings is $5.40 per share. Zacks Research also issued estimates for Devon Energy's Q4 2024 earnings at $1.49 EPS, Q1 2025 earnings at $1.40 EPS, Q2 2025 earnings at $1.55 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $5.87 EPS, Q1 2026 earnings at $1.42 EPS, Q2 2026 earnings at $1.52 EPS and FY2026 earnings at $5.86 EPS.
Other equities analysts have also issued reports about the stock. Sanford C. Bernstein decreased their price objective on shares of Devon Energy from $48.00 to $43.00 and set a "market perform" rating for the company in a report on Wednesday, July 17th. Bank of America reiterated a "buy" rating and set a $64.00 target price on shares of Devon Energy in a research note on Friday, June 14th. Piper Sandler decreased their target price on shares of Devon Energy from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. BMO Capital Markets upgraded shares of Devon Energy to a "strong-buy" rating in a research note on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of Devon Energy from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.75.
View Our Latest Research Report on DVN
Devon Energy Stock Down 0.4 %
NYSE DVN traded down $0.17 during mid-day trading on Thursday, reaching $43.67. The stock had a trading volume of 4,169,060 shares, compared to its average volume of 7,185,548. Devon Energy has a 1 year low of $40.47 and a 1 year high of $55.09. The stock has a market cap of $27.60 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07. The company has a fifty day moving average price of $46.00 and a 200 day moving average price of $47.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.
Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the business earned $1.18 EPS. The firm's revenue for the quarter was up 13.4% on a year-over-year basis.
Devon Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Devon Energy's dividend payout ratio is currently 16.79%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in Devon Energy in the 2nd quarter worth $27,000. Manchester Capital Management LLC bought a new position in Devon Energy in the 4th quarter worth $28,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the 1st quarter worth $30,000. Jones Financial Companies Lllp boosted its holdings in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company's stock worth $33,000 after buying an additional 374 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Devon Energy in the 2nd quarter worth $34,000. Institutional investors own 69.72% of the company's stock.
About Devon Energy
(
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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.
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