Wall Street brokerages predict that Devon Energy Corp (NYSE:DVN) will announce $2.39 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Devon Energy’s earnings, with the lowest sales estimate coming in at $2.24 billion and the highest estimate coming in at $2.68 billion. Devon Energy posted sales of $2.25 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The company is expected to announce its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that Devon Energy will report full year sales of $8.02 billion for the current fiscal year, with estimates ranging from $5.48 billion to $9.39 billion. For the next financial year, analysts forecast that the business will report sales of $8.33 billion, with estimates ranging from $5.31 billion to $12.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Devon Energy.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company earned $0.20 earnings per share.

A number of brokerages have issued reports on DVN. Credit Suisse Group set a $36.00 price target on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Wells Fargo & Co began coverage on Devon Energy in a research note on Monday, May 20th. They issued an “outperform” rating and a $40.00 price target on the stock. Zacks Investment Research lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, MKM Partners raised their price target on Devon Energy from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.35.

NYSE:DVN traded down $0.35 during mid-day trading on Monday, reaching $25.77. The company’s stock had a trading volume of 5,074,608 shares, compared to its average volume of 5,793,245. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.74. Devon Energy has a twelve month low of $20.37 and a twelve month high of $46.54. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.82 and a beta of 2.28.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.09 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.40%. Devon Energy’s dividend payout ratio (DPR) is 27.91%.

In other news, CAO Jeremy D. Humphers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total value of $101,600.00. Following the transaction, the chief accounting officer now directly owns 81,914 shares in the company, valued at approximately $2,080,615.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Devon Energy by 105.9% during the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock valued at $100,722,000 after buying an additional 1,296,801 shares during the period. Dupont Capital Management Corp raised its holdings in shares of Devon Energy by 135.4% during the 4th quarter. Dupont Capital Management Corp now owns 15,098 shares of the energy company’s stock valued at $340,000 after buying an additional 8,685 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Devon Energy by 21.8% during the 4th quarter. LS Investment Advisors LLC now owns 19,821 shares of the energy company’s stock valued at $447,000 after buying an additional 3,554 shares during the period. Redpoint Investment Management Pty Ltd raised its holdings in shares of Devon Energy by 16.4% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 10,506 shares of the energy company’s stock valued at $237,000 after buying an additional 1,483 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at about $533,000. Institutional investors own 84.40% 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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