Devon Energy (DVN) Set to Announce Earnings on Wednesday

Devon Energy (NYSE:DVN) will release its earnings data after the market closes on Wednesday, May 1st. Analysts expect Devon Energy to post earnings of $1.11 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 earnings per share. 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 Up 0.8 %

DVN opened at $52.57 on Wednesday. The firm has a market cap of $33.38 billion, a P/E ratio of 9.02 and a beta of 2.19. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $48.30 and its 200 day simple moving average is $46.05. Devon Energy has a 52 week low of $40.47 and a 52 week high of $55.09.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.35%. Devon Energy’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Citigroup lifted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Susquehanna raised their price objective on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a research note on Thursday, March 7th. Finally, Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.