Capital One Financial Corporation Weighs in on Devon Energy Corporation’s Q4 2017 Earnings (DVN)
Devon Energy Corporation (NYSE:DVN) – Research analysts at Capital One Financial Corporation increased their Q4 2017 earnings estimates for shares of Devon Energy Corporation in a report released on Wednesday. Capital One Financial Corporation analyst P. Johnston now anticipates that the energy company will post earnings per share of $0.64 for the quarter, up from their previous forecast of $0.63.
Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share.
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Other analysts also recently issued reports about the company. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Saturday, July 1st. KLR Group reaffirmed a “buy” rating and set a $54.00 price objective (up from $52.00) on shares of Devon Energy Corporation in a research note on Monday, May 15th. BMO Capital Markets set a $42.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Devon Energy Corporation in a research note on Tuesday, June 6th. Finally, Royal Bank Of Canada set a $53.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a research note on Monday, May 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.27.
Shares of Devon Energy Corporation (DVN) opened at 31.47 on Monday. The company’s 50-day moving average price is $31.84 and its 200 day moving average price is $35.92. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 7.12 and a beta of 2.18.
A number of hedge funds have recently bought and sold shares of DVN. FTB Advisors Inc. lifted its stake in Devon Energy Corporation by 84.2% in the 1st quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after buying an additional 1,259 shares in the last quarter. Fifth Third Bancorp lifted its stake in Devon Energy Corporation by 10.4% in the 1st quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after buying an additional 248 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Devon Energy Corporation in the 1st quarter valued at approximately $116,000. Sun Life Financial INC lifted its stake in Devon Energy Corporation by 32,058.3% in the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in Devon Energy Corporation by 88.9% in the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock valued at $142,000 after buying an additional 1,600 shares in the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.98% of the company’s stock.
Devon Energy Corporation Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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