Analysts forecast that Devon Energy Corp (NYSE:DVN) will announce earnings per share of $0.48 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Devon Energy’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.22. Devon Energy reported earnings per share of $0.34 during the same quarter last year, which would suggest a positive year over year growth rate of 41.2%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Devon Energy will report full year earnings of $2.18 per share for the current year, with EPS estimates ranging from $1.56 to $2.94. For the next financial year, analysts expect that the business will report earnings of $2.92 per share, with EPS estimates ranging from $1.21 to $9.46. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Devon Energy.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, April 30th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company earned $0.20 EPS.
In other Devon Energy news, Director Robert H. Henry purchased 11,651 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the purchase, the director now directly owns 21,355 shares in the company, valued at $640,863.55. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new position in shares of Devon Energy in the first quarter worth $25,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Devon Energy in the fourth quarter worth $26,000. Lindbrook Capital LLC acquired a new position in shares of Devon Energy in the fourth quarter worth $26,000. Meeder Asset Management Inc. raised 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 acquiring an additional 400 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised 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 acquiring an additional 461 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DVN traded down $2.16 during midday trading on Thursday, hitting $27.15. 390,875 shares of the company’s stock were exchanged, compared to its average volume of 6,150,018. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. Devon Energy has a twelve month low of $20.37 and a twelve month high of $46.54. The firm has a market capitalization of $12.92 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.86 and a beta of 2.23.
About Devon Energy
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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