Brokerages expect that Devon Energy Corp (NYSE:DVN) will post $1.80 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Devon Energy’s earnings, with estimates ranging from $1.75 billion to $1.87 billion. Devon Energy reported sales of $2.58 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 30.2%. The company is expected to announce its next earnings report after the market closes on Tuesday, November 5th.
According to Zacks, analysts expect that Devon Energy will report full-year sales of $7.20 billion for the current financial year, with estimates ranging from $6.94 billion to $7.46 billion. For the next year, analysts forecast that the company will post sales of $7.74 billion, with estimates ranging from $6.35 billion to $10.43 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Devon Energy.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.09 billion. Devon Energy had a return on equity of 8.42% and a net margin of 39.80%. Devon Energy’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share.
Shares of DVN stock traded up $0.16 during trading on Wednesday, hitting $21.07. The company’s stock had a trading volume of 7,197,673 shares, compared to its average volume of 7,089,916. The company has a market cap of $9.13 billion, a PE ratio of 16.33, a P/E/G ratio of 1.55 and a beta of 2.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $23.60 and a 200-day moving average of $27.29. Devon Energy has a 52 week low of $20.37 and a 52 week high of $39.50.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, December 12th. Devon Energy’s dividend payout ratio (DPR) is 27.91%.
In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 42,475 shares of the company’s stock, valued at $920,008.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of DVN. North Star Investment Management Corp. purchased a new stake in shares of Devon Energy during the third quarter worth $43,000. Westside Investment Management Inc. purchased a new stake in shares of Devon Energy during the second quarter worth $45,000. Advisory Services Network LLC lifted its position in shares of Devon Energy by 43.1% during the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock worth $48,000 after acquiring an additional 516 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Devon Energy by 88.1% during the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock worth $49,000 after acquiring an additional 814 shares in the last quarter. Finally, Resources Investment Advisors LLC. lifted its position in shares of Devon Energy by 8,181.8% during the second quarter. Resources Investment Advisors LLC. now owns 1,822 shares of the energy company’s stock worth $52,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 85.85% of the company’s stock.
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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