Devon Energy (NYSE:DVN) Announces Earnings Results

Devon Energy (NYSE:DVN) announced its earnings results on Tuesday. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01, Briefing.com reports. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis.

Devon Energy Trading Down 2.8 %

Devon Energy stock opened at $38.89 on Friday. The business’s 50-day simple moving average is $40.60 and its 200-day simple moving average is $44.99. Devon Energy has a 52 week low of $37.76 and a 52 week high of $55.09. The firm has a market capitalization of $24.35 billion, a PE ratio of 7.06, a PEG ratio of 1.20 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DVN shares. BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. UBS Group dropped their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. TD Cowen decreased their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday. Susquehanna dropped their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $51.80.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.