Devon Energy (NYSE:DVN) – Piper Jaffray issued their Q1 2018 earnings per share estimates for shares of Devon Energy in a report released on Wednesday, April 18th. Piper Jaffray analyst D. Kistler expects that the energy company will post earnings per share of $0.11 for the quarter. Piper Jaffray has a “Hold” rating and a $44.00 price target on the stock. Piper Jaffray also issued estimates for Devon Energy’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.56 EPS and Q4 2019 earnings at $0.59 EPS.
Several other research firms have also issued reports on DVN. Stifel Nicolaus set a $68.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Scotiabank lowered shares of Devon Energy to a “buy” rating and set a $50.00 price target on the stock. in a research report on Thursday, April 12th. Royal Bank of Canada restated a “buy” rating and issued a $44.00 price target on shares of Devon Energy in a research report on Friday, April 13th. Credit Suisse Group set a $50.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Cowen set a $51.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Devon Energy has a consensus rating of “Buy” and an average price target of $45.65.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.22). The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.58 billion. Devon Energy had a return on equity of 6.92% and a net margin of 10.04%. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS.
Several large investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Devon Energy by 8.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,658 shares of the energy company’s stock valued at $648,000 after buying an additional 1,329 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Devon Energy by 2.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 56,676 shares of the energy company’s stock valued at $2,346,000 after purchasing an additional 1,344 shares during the last quarter. Intrust Bank NA lifted its stake in shares of Devon Energy by 15.9% in the 4th quarter. Intrust Bank NA now owns 10,573 shares of the energy company’s stock valued at $438,000 after purchasing an additional 1,451 shares during the last quarter. Hedeker Wealth LLC lifted its stake in shares of Devon Energy by 6.8% in the 4th quarter. Hedeker Wealth LLC now owns 23,082 shares of the energy company’s stock valued at $955,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Brightworth lifted its stake in shares of Devon Energy by 2.9% in the 4th quarter. Brightworth now owns 54,037 shares of the energy company’s stock valued at $2,237,000 after purchasing an additional 1,525 shares during the last quarter. 82.25% of the stock is owned by institutional investors.
Devon Energy announced that its board has initiated a stock repurchase plan on Wednesday, March 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the energy company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.06. Devon Energy’s dividend payout ratio (DPR) is 38.10%.
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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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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