FY2024 EPS Estimates for Devon Energy Boosted by Analyst

Devon Energy Co. (NYSE:DVN) – Capital One Financial increased their FY2024 earnings estimates for shares of Devon Energy in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the energy company will post earnings of $4.52 per share for the year, up from their previous estimate of $4.50. The consensus estimate for Devon Energy’s current full-year earnings is $4.79 per share. Capital One Financial also issued estimates for Devon Energy’s Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $1.03 EPS, Q2 2025 earnings at $1.11 EPS, Q3 2025 earnings at $1.20 EPS, Q4 2025 earnings at $1.26 EPS, FY2025 earnings at $4.61 EPS and FY2026 earnings at $4.66 EPS.

DVN has been the topic of a number of other research reports. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Raymond James decreased their price target on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.18.

Devon Energy Stock Up 1.2 %

Shares of DVN opened at $37.22 on Monday. The firm has a market cap of $24.45 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The company’s fifty day moving average is $35.58 and its two-hundred day moving average is $40.49. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $39,000. True Wealth Design LLC raised its stake in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its stake in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.