Devon Energy Corp (NYSE:DVN) – Equities researchers at Capital One Financial lowered their FY2020 EPS estimates for Devon Energy in a report issued on Wednesday, November 6th. Capital One Financial analyst P. Johnston now forecasts that the energy company will earn $1.36 per share for the year, down from their prior estimate of $2.10.
A number of other equities analysts also recently issued reports on the company. Mitsubishi UFJ Financial Group raised their price objective on Devon Energy to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Goldman Sachs Group restated a “sell” rating and set a $25.50 price objective on shares of Devon Energy in a research report on Tuesday, July 23rd. Morgan Stanley lowered their price objective on Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. MKM Partners set a $32.00 price objective on Devon Energy and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Citigroup decreased their target price on Devon Energy from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.19.
Shares of DVN opened at $22.91 on Friday. Devon Energy has a 1 year low of $19.72 and a 1 year high of $35.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35. The business has a 50-day moving average of $22.20 and a 200-day moving average of $25.68.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Devon Energy had a return on equity of 6.08% and a net margin of 16.00%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the company earned $0.63 earnings per share.
Institutional investors have recently made changes to their positions in the business. Usca Ria LLC acquired a new stake in Devon Energy in the third quarter valued at approximately $29,000. North Star Investment Management Corp. acquired a new stake in Devon Energy in the third quarter valued at approximately $43,000. Westside Investment Management Inc. acquired a new stake in Devon Energy in the second quarter valued at approximately $45,000. Advisory Services Network LLC grew its stake in Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after acquiring an additional 516 shares during the period. Finally, CSat Investment Advisory L.P. grew its stake in Devon Energy by 88.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock valued at $49,000 after acquiring an additional 814 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.
In related news, CAO Jeremy D. Humphers sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total transaction of $32,490.00. Following the completion of the sale, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at $920,008.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.57%. Devon Energy’s dividend payout ratio is currently 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.
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