Devon Energy Corp (NYSE:DVN) – Investment analysts at Capital One Financial lowered their FY2020 earnings per share (EPS) estimates for Devon Energy in a research report issued to clients and investors on Wednesday, November 6th. Capital One Financial analyst P. Johnston now anticipates that the energy company will earn $1.36 per share for the year, down from their prior estimate of $2.10.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.08%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the firm earned $0.63 earnings per share.
Devon Energy stock opened at $22.91 on Friday. Devon Energy has a 1-year low of $19.72 and a 1-year high of $35.39. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.50 and a beta of 2.35. The firm’s fifty day moving average price is $22.20 and its two-hundred day moving average price is $25.68. 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, December 12th. Devon Energy’s payout ratio is currently 27.91%.
In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of Devon Energy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the sale, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at $920,008.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Usca Ria LLC bought a new stake in Devon Energy in the third quarter worth about $29,000. Westside Investment Management Inc. bought a new stake in Devon Energy in the second quarter worth about $45,000. Advisory Services Network LLC raised its position in Devon Energy by 43.1% in 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 during the period. CSat Investment Advisory L.P. raised its position in Devon Energy by 88.1% in 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 during the period. Finally, North Star Investment Management Corp. bought a new stake in Devon Energy in the third quarter worth about $43,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.
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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