Devon Energy (NYSE:DVN) Posts Earnings Results

Devon Energy (NYSE:DVN) posted its earnings results on Tuesday. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16, Zacks reports. Devon Energy had a net margin of 18.14% and a return on equity of 23.17%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion.

Devon Energy Price Performance

NYSE:DVN opened at $37.58 on Thursday. The firm’s fifty day moving average is $34.31 and its two-hundred day moving average is $38.40. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 1.09 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy has a one year low of $30.39 and a one year high of $55.09.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 19.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Raymond James boosted their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Cowen lowered Devon Energy to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Tuesday. Mizuho cut their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.17.

Devon Energy Company Profile

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.