Devon Energy Corporation (NYSE:DVN) - Analysts at Seaport Global Securities boosted their Q3 2017 earnings per share estimates for shares of Devon Energy Corporation in a research note issued on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings of $0.33 per share for the quarter, up from their prior estimate of $0.27. Seaport Global Securities currently has a “Neutral” rating and a $28.00 target price on the stock. Seaport Global Securities also issued estimates for Devon Energy Corporation’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.74 EPS.
Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share.
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A number of other brokerages have also recently commented on DVN. Barclays PLC reissued an “overweight” rating and issued a $35.00 price target (up from $31.00) on shares of Devon Energy Corporation in a research report on Thursday. Royal Bank Of Canada set a $53.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. BidaskClub raised Devon Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Bank of America Corporation reissued a “buy” rating on shares of Devon Energy Corporation in a research report on Thursday, May 11th. Finally, Piper Jaffray Companies started coverage on Devon Energy Corporation in a research report on Monday, July 17th. They issued a “neutral” rating and a $48.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.71.
Shares of Devon Energy Corporation (DVN) opened at 33.66 on Friday. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The stock has a 50 day moving average price of $31.57 and a 200 day moving average price of $38.48. The stock has a market capitalization of $17.71 billion, a P/E ratio of 7.55 and a beta of 2.17.
A number of large investors have recently made changes to their positions in the stock. DnB Asset Management AS raised its stake in shares of Devon Energy Corporation by 20.9% in the first quarter. DnB Asset Management AS now owns 51,575 shares of the energy company’s stock worth $2,152,000 after buying an additional 8,900 shares in the last quarter. Benson Investment Management Company Inc. bought a new stake in shares of Devon Energy Corporation during the first quarter worth $2,055,000. Reliance Trust Co. of Delaware raised its stake in shares of Devon Energy Corporation by 96.5% in the first quarter. Reliance Trust Co. of Delaware now owns 11,313 shares of the energy company’s stock worth $472,000 after buying an additional 5,555 shares in the last quarter. Washington Trust Bank raised its stake in shares of Devon Energy Corporation by 48.6% in the first quarter. Washington Trust Bank now owns 4,700 shares of the energy company’s stock worth $196,000 after buying an additional 1,538 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of Devon Energy Corporation by 32.1% in the first quarter. Viking Fund Management LLC now owns 370,000 shares of the energy company’s stock worth $15,436,000 after buying an additional 90,000 shares in the last quarter. Institutional investors and hedge funds own 77.22% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.71%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.
Devon Energy Corporation Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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