Devon Energy Corporation (DVN) To Go Ex-Dividend on September 15th

Devon Energy Corporation (NYSE:DVN – Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.32 per share by the energy company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Devon Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Devon Energy has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Devon Energy to earn $5.04 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 25.4%.

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Devon Energy Stock Up 0.3%

NYSE:DVN opened at $50.19 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The company’s fifty day moving average price is $45.61 and its 200-day moving average price is $45.95. Devon Energy has a 1-year low of $31.47 and a 1-year high of $52.71. The firm has a market capitalization of $55.21 billion, a P/E ratio of 11.92, a PEG ratio of 1.37 and a beta of 0.37.

Devon Energy (NYSE:DVN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 73.1% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy will post 5.24 EPS for the current year.

Devon Energy Company Profile

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Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company also gathers, processes and transports hydrocarbons through related midstream infrastructure and markets its production to customers in the United States.

Devon’s operations are concentrated in U.S. onshore basins, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.

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