Capital One Financial Estimates Devon Energy FY2024 Earnings

Devon Energy Co. (NYSE:DVN) – Capital One Financial raised their FY2024 earnings per share (EPS) estimates for shares of Devon Energy in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the energy company will earn $4.52 per share for the year, up from their prior forecast 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.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm 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%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS.

DVN has been the topic of several other reports. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. BMO Capital Markets decreased their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group reduced their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. TD Cowen lowered their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.48.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $36.10 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a 50 day moving average price of $35.62 and a 200 day moving average price of $40.56. The stock has a market capitalization of $23.71 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.99. Devon Energy has a 52 week low of $30.39 and a 52 week high of $55.09.

Institutional Trading of Devon Energy

Institutional investors have recently modified their holdings of the company. SkyOak Wealth LLC raised its holdings in shares of Devon Energy by 4.1% during the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after acquiring an additional 250 shares in the last quarter. Riversedge Advisors LLC increased its position in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the period. Modus Advisors LLC raised its holdings in Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after purchasing an additional 272 shares in the last quarter. Lummis Asset Management LP lifted its position in shares of Devon Energy by 1.0% in the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after purchasing an additional 290 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% during 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. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, December 13th. 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.