Piper Jaffray Companies Analysts Increase Earnings Estimates for Devon Energy Corp (DVN)

Devon Energy Corp (NYSE:DVN) – Equities researchers at Piper Jaffray Companies boosted their Q1 2019 EPS estimates for shares of Devon Energy in a report released on Thursday, April 11th. Piper Jaffray Companies analyst R. Todd now forecasts that the energy company will post earnings per share of $0.24 for the quarter, up from their previous estimate of $0.19.

Other equities analysts also recently issued reports about the company. Johnson Rice downgraded Devon Energy from a “buy” rating to an “accumulate” rating in a research report on Tuesday, January 8th. MKM Partners lifted their target price on Devon Energy from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Credit Suisse Group set a $36.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, April 1st. Finally, TheStreet upgraded Devon Energy from a “d+” rating to a “c+” rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.30.

NYSE DVN opened at $32.83 on Monday. The firm has a market cap of $14.24 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.57 and a beta of 2.25. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63. Devon Energy has a fifty-two week low of $20.37 and a fifty-two week high of $46.54.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 19th. The energy company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Devon Energy had a net margin of 24.82% and a return on equity of 5.73%. During the same quarter last year, the firm posted $0.38 earnings per share.

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings 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 purchasing an additional 400 shares during the last quarter. Duncker Streett & Co. Inc. increased its holdings in shares of Devon Energy by 40.5% in the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after purchasing an additional 461 shares during the last quarter. AGF Investments Inc. increased its holdings in shares of Devon Energy by 0.5% in the fourth quarter. AGF Investments Inc. now owns 96,627 shares of the energy company’s stock worth $2,178,000 after purchasing an additional 526 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Devon Energy by 1.0% in the first quarter. Chartwell Investment Partners LLC now owns 62,814 shares of the energy company’s stock worth $1,982,000 after purchasing an additional 595 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Devon Energy by 3.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,332 shares of the energy company’s stock worth $481,000 after purchasing an additional 636 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.

In other Devon Energy news, Director Robert H. Henry acquired 11,651 shares of the stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the transaction, the director now directly owns 21,355 shares of the company’s stock, valued at $640,863.55. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.10%. This is an increase from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 13th. Devon Energy’s payout ratio is presently 24.81%.

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

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