Devon Energy Corp (NYSE:DVN) – Stock analysts at Piper Jaffray Companies increased their Q1 2019 EPS estimates for Devon Energy in a research note issued to investors on Thursday, April 18th, Zacks Investment Research reports. Piper Jaffray Companies analyst R. Todd now anticipates that the energy company will post earnings of $0.26 per share for the quarter, up from their prior estimate of $0.24.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, April 30th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. During the same quarter in the prior year, the firm posted $0.20 earnings per share.
DVN stock traded up $0.06 on Friday, hitting $31.31. 4,950,537 shares of the company were exchanged, compared to its average volume of 7,001,236. Devon Energy has a twelve month low of $20.37 and a twelve month high of $46.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 0.87 and a beta of 2.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.08. Devon Energy’s dividend payout ratio is presently 24.81%.
In other news, Director Robert H. Henry purchased 11,651 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was acquired at an average cost of $30.01 per share, with a total value of $349,646.51. Following the acquisition, the director now owns 21,355 shares in the company, valued at $640,863.55. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DVN. Ontario Teachers Pension Plan Board bought a new position in Devon Energy during the 1st quarter valued at $1,532,000. Rockefeller Capital Management L.P. bought a new position in Devon Energy during the 1st quarter valued at $25,000. MML Investors Services LLC boosted its stake in Devon Energy by 14.0% during the 1st quarter. MML Investors Services LLC now owns 12,399 shares of the energy company’s stock valued at $391,000 after acquiring an additional 1,519 shares during the last quarter. HAP Trading LLC lifted its position in shares of Devon Energy by 102.5% in the 1st quarter. HAP Trading LLC now owns 13,433 shares of the energy company’s stock worth $424,000 after buying an additional 544,845 shares during the last quarter. Finally, Intrust Bank NA lifted its position in shares of Devon Energy by 3.3% in the 1st quarter. Intrust Bank NA now owns 11,521 shares of the energy company’s stock worth $363,000 after buying an additional 366 shares during the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.
About Devon Energy
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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