Brokerages expect that Devon Energy Corp (NYSE:DVN) will post $1.64 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Devon Energy’s earnings, with estimates ranging from $1.09 billion to $1.87 billion. Devon Energy reported sales of $3.71 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 55.8%. The company is expected to announce its next earnings report on Tuesday, February 18th.

According to Zacks, analysts expect that Devon Energy will report full-year sales of $6.85 billion for the current financial year, with estimates ranging from $5.52 billion to $7.45 billion. For the next year, analysts forecast that the company will post sales of $6.23 billion, with estimates ranging from $4.21 billion to $7.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Devon Energy.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.37%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm earned $0.63 EPS.

A number of analysts recently commented on DVN shares. Seaport Global Securities cut shares of Devon Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley lowered their target price on shares of Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Mitsubishi UFJ Financial Group lifted their target price on shares of Devon Energy to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Guggenheim set a $35.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI reiterated a “hold” rating and issued a $30.00 target price on shares of Devon Energy in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Devon Energy has an average rating of “Hold” and a consensus price target of $35.82.

DVN stock traded up $0.72 during trading on Friday, reaching $22.56. The company had a trading volume of 6,468,703 shares, compared to its average volume of 7,750,627. The firm has a 50-day simple moving average of $21.82 and a 200-day simple moving average of $25.33. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.82 and a beta of 2.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.72 and a current ratio of 1.72. Devon Energy has a twelve month low of $19.72 and a twelve month high of $35.39.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 12th. Devon Energy’s dividend payout ratio is currently 27.91%.

In related news, CAO Jeremy D. Humphers sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 42,475 shares in the company, valued at approximately $920,008.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Usca Ria LLC purchased a new stake in Devon Energy in the 3rd quarter worth $29,000. Westside Investment Management Inc. purchased a new stake in Devon Energy in the 2nd quarter worth $45,000. Advisory Services Network LLC increased its holdings in Devon Energy by 43.1% in the 2nd 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 in the last quarter. CSat Investment Advisory L.P. increased its holdings in Devon Energy by 88.1% in the 2nd 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 in the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in Devon Energy in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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

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