Wall Street analysts predict that Devon Energy Corporation (NYSE:DVN) will report $0.58 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Devon Energy’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.79. Devon Energy posted earnings of $0.25 per share in the same quarter last year, which would suggest a positive year over year growth rate of 132%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 13th.

According to Zacks, analysts expect that Devon Energy will report full year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $2.00. For the next financial year, analysts forecast that the company will report earnings of $2.20 per share, with EPS estimates ranging from $0.76 to $3.09. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Devon Energy.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Devon Energy’s revenue was up 9.5% on a year-over-year basis.

A number of research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Devon Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $43.00 price objective on the stock. Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Devon Energy in a research note on Tuesday, August 22nd. Morgan Stanley raised their price objective on shares of Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Jefferies Group reaffirmed a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Devon Energy in a research note on Tuesday, August 29th. Finally, Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $45.39.

In other news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the sale, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Point View Wealth Management Inc. increased its holdings in Devon Energy by 1.2% during the second quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after buying an additional 95 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Devon Energy by 1.1% during the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after buying an additional 99 shares during the last quarter. Sterneck Capital Management LLC increased its holdings in Devon Energy by 4.5% during the second quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock worth $208,000 after buying an additional 283 shares during the last quarter. Nippon Life Insurance Co. increased its holdings in Devon Energy by 1.2% during the second quarter. Nippon Life Insurance Co. now owns 25,656 shares of the energy company’s stock worth $820,000 after buying an additional 307 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in Devon Energy by 0.5% during the second quarter. Utah Retirement Systems now owns 96,170 shares of the energy company’s stock worth $3,074,000 after buying an additional 500 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Devon Energy (NYSE DVN) traded up $0.64 during trading on Friday, hitting $38.70. 5,487,600 shares of the company’s stock were exchanged, compared to its average volume of 4,770,585. Devon Energy has a 12-month low of $28.79 and a 12-month high of $49.45. The company has a market capitalization of $19,981.50, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.19 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.62%. Devon Energy’s dividend payout ratio is currently 8.19%.

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Devon Energy Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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Earnings History and Estimates for Devon Energy (NYSE:DVN)

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