Q3 2024 Earnings Estimate for Devon Energy Co. Issued By Capital One Financial (NYSE:DVN)

by · The Cerbat Gem

Devon Energy Co. (NYSE:DVN – Free Report) – Equities research analysts at Capital One Financial upped their Q3 2024 earnings estimates for shares of Devon Energy in a research note issued on Wednesday, October 9th. Capital One Financial analyst P. Johnston now expects that the energy company will earn $1.05 per share for the quarter, up from their prior estimate of $1.03. The consensus estimate for Devon Energy’s current full-year earnings is $5.01 per share. Capital One Financial also issued estimates for Devon Energy’s Q4 2024 earnings at $1.13 EPS, FY2024 earnings at $4.74 EPS, Q2 2025 earnings at $1.10 EPS, FY2025 earnings at $4.45 EPS and FY2026 earnings at $5.07 EPS.

Devon Energy (NYSE:DVN – Get Free Report) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank decreased their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Susquehanna lowered their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Jefferies Financial Group began coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.58.

Get Our Latest Analysis on Devon Energy

Devon Energy Price Performance

DVN opened at $41.21 on Monday. Devon Energy has a twelve month low of $37.76 and a twelve month high of $55.09. The firm has a market cap of $26.04 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 1.27 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $42.38 and a 200 day simple moving average of $46.47.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after buying an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after buying an additional 1,428,776 shares in the last quarter. Raymond James & Associates grew its stake in shares of Devon Energy by 1.5% in the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after buying an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Devon Energy by 15.9% in the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after purchasing an additional 699,743 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Devon Energy Company Profile

(Get Free Report)

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.

Featured Stories