News coverage about Devon Energy (NYSE:DVN) has trended somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Devon Energy earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave news articles about the energy company an impact score of 46.1118161186077 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the media stories that may have effected Accern Sentiment’s analysis:
- A small oil field in Oklahoma is seeing big bets from producers – Yahoo Finance (finance.yahoo.com)
- Where Wall Street Thinks ConocoPhillips Could Trade in 1 Year (finance.yahoo.com)
- Q1 2018 EPS Estimates for Devon Energy (DVN) Lowered by Analyst (americanbankingnews.com)
- Devon Energy (DVN) Lifted to “Hold” at Zacks Investment Research (americanbankingnews.com)
- Devon Energy Corporation, (NYSE: DVN) – Is the Stock Safe to Invest? – Stock Watch (stocksnewstimes.com)
Devon Energy (NYSE:DVN) traded up $0.39 during trading on Tuesday, hitting $31.55. The stock had a trading volume of 8,607,851 shares, compared to its average volume of 7,734,954. Devon Energy has a 52-week low of $28.79 and a 52-week high of $45.16. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $16,814.15, a price-to-earnings ratio of 11.91, a P/E/G ratio of 2.43 and a beta of 2.26.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.22). Devon Energy had a return on equity of 6.92% and a net margin of 10.04%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the business earned $0.25 earnings per share. Devon Energy’s revenue was up 41.8% on a year-over-year basis. research analysts forecast that Devon Energy will post 1.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.08 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 9.06%.
Devon Energy declared that its board has approved a share buyback program on Wednesday, March 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the energy company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently commented on the company. Capital One Financial downgraded Devon Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 10th. Credit Suisse Group assumed coverage on Devon Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $43.00 price target for the company. Zacks Investment Research raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup reaffirmed a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Tuesday, November 28th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating and set a $35.00 price target (down from $47.00) on shares of Devon Energy in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $45.60.
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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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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