Devon Energy (NYSE:DVN) – Equities researchers at Piper Jaffray issued their Q1 2018 earnings per share (EPS) estimates for shares of Devon Energy in a research report issued to clients and investors on Wednesday, April 18th. Piper Jaffray analyst D. Kistler expects that the energy company will earn $0.11 per share for the quarter. Piper Jaffray has a “Hold” rating and a $44.00 price objective on the stock. Piper Jaffray also issued estimates for Devon Energy’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.56 EPS and Q4 2019 earnings at $0.59 EPS.
Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.22). The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.58 billion. Devon Energy had a net margin of 10.04% and a return on equity of 6.92%. Devon Energy’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share.
NYSE DVN opened at $35.69 on Friday. The firm has a market cap of $18,992.21, a PE ratio of 22.70, a PEG ratio of 3.50 and a beta of 2.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. Devon Energy has a 1-year low of $28.79 and a 1-year high of $45.16.
A number of hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB increased its stake in Devon Energy by 13.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 49,137 shares of the energy company’s stock worth $2,034,000 after buying an additional 5,807 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Devon Energy by 15.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 50,170 shares of the energy company’s stock worth $2,077,000 after buying an additional 6,743 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Devon Energy by 65.9% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 24,668 shares of the energy company’s stock worth $1,021,000 after buying an additional 9,800 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Devon Energy in the 4th quarter worth $7,887,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Devon Energy in the 4th quarter worth $6,732,000. Institutional investors and hedge funds own 82.25% of the company’s stock.
Devon Energy announced that its Board of Directors has initiated a share buyback program on Wednesday, March 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the energy company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.06. Devon Energy’s dividend payout ratio is presently 38.10%.
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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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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