Devon Energy (DVN) Expected to Announce Quarterly Earnings on Tuesday

Devon Energy (NYSE:DVN - Get Free Report) will likely be issuing its Q4 2024 quarterly earnings results after the market closes on Tuesday, February 18th. Analysts expect the company to announce earnings of $1.00 per share and revenue of $4.25 billion for the quarter. Parties that wish to register for the company's conference call can do so using this link.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. On average, analysts expect Devon Energy to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Devon Energy Stock Up 7.7 %

DVN traded up $2.70 on Wednesday, hitting $37.58. 18,999,246 shares of the company were exchanged, compared to its average volume of 9,535,055. 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's fifty day moving average is $34.26 and its 200-day moving average is $38.41. The company has a market cap of $24.69 billion, a PE ratio of 6.97, a PEG ratio of 1.08 and a beta of 1.98. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. Devon Energy's dividend payout ratio (DPR) is currently 16.33%.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. TD Cowen cut their price target on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Raymond James raised their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Benchmark raised Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research report on Tuesday, January 14th. Cowen lowered Devon Energy to a "hold" rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Tuesday. Finally, Wolfe Research upgraded Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.26.

Devon Energy Company Profile

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.