Devon Energy (NYSE:DVN – Get Free Report) posted its earnings results on Wednesday. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06, Briefing.com reports. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share.
Devon Energy Stock Up 0.1 %
NYSE DVN traded up $0.07 during trading hours on Thursday, hitting $50.47. The company had a trading volume of 10,971,149 shares, compared to its average volume of 7,858,200. Devon Energy has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company has a market capitalization of $32.05 billion, a price-to-earnings ratio of 8.74 and a beta of 2.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm’s 50 day moving average is $49.36 and its 200 day moving average is $46.27.
Devon Energy Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.
Analysts Set New Price Targets
About Devon Energy
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.
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