Analysts Offer Predictions for Devon Energy Co.'s Q1 2024 Earnings (NYSE:DVN)

Devon Energy Co. (NYSE:DVN - Free Report) - Research analysts at Zacks Research lowered their Q1 2024 EPS estimates for Devon Energy in a research report issued to clients and investors on Thursday, April 25th. Zacks Research analyst J. Saha now forecasts that the energy company will post earnings per share of $1.13 for the quarter, down from their previous estimate of $1.14. The consensus estimate for Devon Energy's current full-year earnings is $5.25 per share. Zacks Research also issued estimates for Devon Energy's Q4 2025 earnings at $1.51 EPS, Q1 2026 earnings at $1.41 EPS and FY2026 earnings at $5.91 EPS.

Several other equities research analysts also recently issued reports on DVN. Morgan Stanley increased their price objective on shares of Devon Energy from $49.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. Citigroup increased their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, April 11th. Truist Financial increased their price objective on shares of Devon Energy from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler increased their price objective on shares of Devon Energy from $59.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Finally, Mizuho lowered their price objective on shares of Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $58.33.

Devon Energy Trading Up 0.2 %

DVN traded up $0.11 during mid-day trading on Friday, hitting $52.72. The stock had a trading volume of 4,617,947 shares, compared to its average volume of 7,856,879. The stock's fifty day simple moving average is $48.88 and its 200-day simple moving average is $46.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 9.04 and a beta of 2.19. Devon Energy has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Devon Energy during the 3rd quarter worth approximately $27,000. Manchester Capital Management LLC bought a new stake in Devon Energy during the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the 1st quarter worth approximately $30,000. Sound Income Strategies LLC grew its holdings in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company's stock worth $31,000 after acquiring an additional 255 shares during the last quarter. Finally, Rise Advisors LLC lifted its position in shares of Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company's stock worth $33,000 after purchasing an additional 669 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Thursday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 15.09%.

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.