Devon Energy (DVN) to Release Quarterly Earnings on Wednesday

Devon Energy (NYSE:DVN) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.11 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.66 EPS. On average, analysts expect Devon Energy to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Devon Energy Stock Performance

Devon Energy stock opened at $52.71 on Monday. The firm’s fifty day moving average price is $48.88 and its 200-day moving average price is $46.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The stock has a market cap of $33.47 billion, a P/E ratio of 9.04 and a beta of 2.19. Devon Energy has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, March 14th. Devon Energy’s payout ratio is presently 15.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DVN shares. Mizuho cut their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Raymond James decreased their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Barclays began coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price for the company. Piper Sandler lifted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.