Zacks Research Expects Increased Earnings for Devon Energy

Devon Energy Co. (NYSE:DVN - Free Report) - Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Devon Energy in a report released on Wednesday, January 15th. Zacks Research analyst J. Saha now anticipates that the energy company will post earnings of $4.73 per share for the year, up from their previous estimate of $4.72. The consensus estimate for Devon Energy's current full-year earnings is $4.72 per share. Zacks Research also issued estimates for Devon Energy's Q4 2024 earnings at $1.06 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.11 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $4.47 EPS, Q1 2026 earnings at $0.99 EPS, Q2 2026 earnings at $1.17 EPS, Q3 2026 earnings at $1.06 EPS, Q4 2026 earnings at $0.95 EPS and FY2026 earnings at $4.16 EPS.

DVN has been the subject of several other reports. JPMorgan Chase & Co. cut Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. TD Cowen dropped their price objective on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Susquehanna reduced their price objective on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research note on Friday, October 18th. Truist Financial dropped their target price on Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Monday, January 13th. Finally, BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.27.

Devon Energy Trading Down 1.2 %

DVN traded down $0.44 on Friday, reaching $37.98. 9,342,292 shares of the company traded hands, compared to its average volume of 10,750,120. Devon Energy has a one year low of $30.39 and a one year high of $55.09. The company has a market cap of $24.95 billion, a P/E ratio of 7.05, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00. The firm has a fifty day simple moving average of $35.48 and a two-hundred day simple moving average of $40.32. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share.

Hedge Funds Weigh In On Devon Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy during the third quarter valued at $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy during the 3rd quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy during the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC increased its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock valued at $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Devon Energy Company Profile

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.