Jefferies Group Research Analysts Lower Earnings Estimates for Devon Energy Corp (DVN)

Devon Energy Corp (NYSE:DVN) – Equities researchers at Jefferies Group dropped their Q2 2017 earnings per share estimates for shares of Devon Energy Corp in a research report issued to clients and investors on Wednesday. Jefferies Group analyst M. Hsu now anticipates that the energy company will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.48. Jefferies Group has a “Hold” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Devon Energy Corp’s Q3 2017 earnings at $0.54 EPS, Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $1.87 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $1.01 EPS and FY2018 earnings at $3.38 EPS.

Other research analysts also recently issued reports about the company. Scotiabank set a $54.00 price objective on Devon Energy Corp and gave the stock a “buy” rating in a report on Monday, March 27th. Barclays PLC increased their price objective on Devon Energy Corp from $48.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. BMO Capital Markets reiterated a “buy” rating and set a $50.00 price objective on shares of Devon Energy Corp in a report on Wednesday, March 22nd. Zacks Investment Research downgraded Devon Energy Corp from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $57.00 price objective on shares of Devon Energy Corp in a report on Friday, March 31st. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Devon Energy Corp presently has an average rating of “Buy” and an average target price of $51.41.

Earnings History and Estimates for Devon Energy Corp (NYSE:DVN)

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Shares of Devon Energy Corp (NYSE:DVN) opened at 38.39 on Friday. The company’s 50 day moving average is $39.77 and its 200-day moving average is $43.24. Devon Energy Corp has a 52 week low of $32.81 and a 52 week high of $50.69. The company has a market capitalization of $20.18 billion, a PE ratio of 65.18 and a beta of 2.17.

Devon Energy Corp (NYSE:DVN) last posted its earnings results on Tuesday, May 2nd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Devon Energy Corp had a positive return on equity of 1.48% and a negative net margin of 69.59%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $2.98 billion.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.06 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. Devon Energy Corp’s payout ratio is -1.28%.

In other news, Director Robert A. Mosbacher, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $39.18, for a total value of $31,344.00. Following the completion of the sale, the director now directly owns 23,308 shares of the company’s stock, valued at $913,207.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in Devon Energy Corp during the fourth quarter valued at $107,000. FTB Advisors Inc. boosted its stake in Devon Energy Corp by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after buying an additional 1,259 shares during the last quarter. Fifth Third Bancorp boosted its stake in Devon Energy Corp by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Devon Energy Corp during the first quarter valued at $116,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Devon Energy Corp by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock valued at $142,000 after buying an additional 1,600 shares during the last quarter. 77.18% of the stock is owned by institutional investors and hedge funds.

Devon Energy Corp Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

12 Month Chart for NYSE:DVN

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