Devon Energy Corp. (NYSE:DVN) – Analysts at Credit Agricole SA increased their Q3 2016 earnings per share estimates for shares of Devon Energy Corp. in a note issued to investors on Wednesday. Credit Agricole SA analyst A. Sen now forecasts that the firm will post earnings of $0.09 per share for the quarter, up from their prior forecast of $0.05. Credit Agricole SA has a “Outperform” rating on the stock. Credit Agricole SA also issued estimates for Devon Energy Corp.’s FY2017 earnings at $1.29 EPS and FY2018 earnings at $2.36 EPS.

Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.25. Devon Energy Corp. had a positive return on equity of 3.62% and a negative net margin of 114.09%. The firm earned $2.49 billion during the quarter, compared to the consensus estimate of $2.29 million. During the same period in the previous year, the firm posted $0.78 EPS. The company’s quarterly revenue was down 26.7% compared to the same quarter last year.

Earnings History and Estimates for Devon Energy Corp. (NYSE:DVN)

DVN has been the subject of a number of other research reports. Vetr raised shares of Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $46.16 price objective for the company in a research report on Tuesday, September 20th. Argus boosted their price objective on shares of Devon Energy Corp. from $51.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Bank of America Corp. set a $64.00 price objective on shares of Devon Energy Corp. and gave the company a “buy” rating in a research report on Monday, October 10th. Barclays PLC boosted their price objective on shares of Devon Energy Corp. from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, September 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Devon Energy Corp. in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $42.21.

Devon Energy Corp. (NYSE:DVN) opened at 43.08 on Thursday. Devon Energy Corp. has a 12 month low of $18.07 and a 12 month high of $48.68. The company’s 50 day moving average price is $42.81 and its 200 day moving average price is $37.49. The firm’s market capitalization is $22.56 billion.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s dividend payout ratio (DPR) is presently -0.82%.

A number of hedge funds have recently modified their holdings of DVN. State Street Corp increased its stake in shares of Devon Energy Corp. by 31.8% in the first quarter. State Street Corp now owns 25,649,107 shares of the energy company’s stock worth $703,812,000 after buying an additional 6,194,903 shares during the period. Sasco Capital Inc. CT increased its stake in shares of Devon Energy Corp. by 30.2% in the first quarter. Sasco Capital Inc. CT now owns 4,272,198 shares of the energy company’s stock worth $117,229,000 after buying an additional 990,146 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Devon Energy Corp. by 1,700.0% in the first quarter. 1832 Asset Management L.P. now owns 362,012 shares of the energy company’s stock worth $15,948,000 after buying an additional 341,900 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Devon Energy Corp. by 42.6% in the first quarter. Canada Pension Plan Investment Board now owns 282,370 shares of the energy company’s stock worth $7,748,000 after buying an additional 84,353 shares during the period. Finally, Credit Agricole S A increased its stake in shares of Devon Energy Corp. by 64.0% in the first quarter. Credit Agricole S A now owns 336,369 shares of the energy company’s stock worth $9,230,000 after buying an additional 131,259 shares during the period. 75.62% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Corp. Company Profile

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

5 Day Chart for NYSE:DVN

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