Devon Energy Corp (NYSE:DVN) – Equities research analysts at Mitsubishi UFJ Financial Group lowered their Q4 2019 earnings estimates for shares of Devon Energy in a report issued on Friday, July 12th. Mitsubishi UFJ Financial Group analyst M. Mcallister now anticipates that the energy company will post earnings per share of $0.51 for the quarter, down from their prior estimate of $0.65. Mitsubishi UFJ Financial Group also issued estimates for Devon Energy’s Q1 2020 earnings at $0.60 EPS.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $2.52 billion. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. During the same quarter in the prior year, the company posted $0.20 EPS.

Several other research analysts have also issued reports on DVN. Barclays set a $325.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Royal Bank of Canada set a $42.00 target price on Devon Energy and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Macquarie lowered Janus Henderson Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, Piper Jaffray Companies set a $360.00 target price on Ulta Beauty and gave the stock a “buy” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.16.

DVN opened at $26.80 on Monday. The firm’s 50 day simple moving average is $27.15. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.10 and a beta of 2.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37. Devon Energy has a one year low of $20.37 and a one year high of $45.61.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. grew its stake in shares of Devon Energy by 94.6% in the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock worth $26,000 after acquiring an additional 400 shares in the last quarter. Lavaca Capital LLC lifted its position in shares of Devon Energy by 566.0% during the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,132 shares during the last quarter. Signaturefd LLC lifted its position in shares of Devon Energy by 46.0% during the 1st quarter. Signaturefd LLC now owns 2,569 shares of the energy company’s stock worth $81,000 after purchasing an additional 809 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its position in shares of Devon Energy by 100.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 3,000 shares of the energy company’s stock worth $95,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new stake in shares of Devon Energy during the 1st quarter worth $129,000. Institutional investors and hedge funds own 84.07% of the company’s stock.

In related news, CAO Jeremy D. Humphers sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total transaction of $101,600.00. Following the completion of the transaction, the chief accounting officer now owns 81,914 shares of the company’s stock, valued at approximately $2,080,615.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, September 12th. 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.

Further Reading: P/E Growth (PEG)

Earnings History and Estimates for Devon Energy (NYSE:DVN)

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