Devon Energy Corp (NYSE:DVN) declared a quarterly dividend on Wednesday, June 5th, RTT News reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.09 per share by the energy company on Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, September 12th.

Devon Energy has decreased its dividend by an average of 32.1% per year over the last three years. Devon Energy has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Devon Energy to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 15.0%.

NYSE:DVN opened at $24.56 on Wednesday. The stock has a market capitalization of $9.96 billion, a PE ratio of 19.04, a P/E/G ratio of 1.75 and a beta of 2.34. Devon Energy has a 1-year low of $20.37 and a 1-year high of $42.27. The firm has a fifty day simple moving average of $23.67 and a 200 day simple moving average of $27.98. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.09 billion. Devon Energy had a net margin of 39.80% and a return on equity of 8.42%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts predict that Devon Energy will post 1.34 earnings per share for the current fiscal year.

DVN has been the topic of a number of research analyst reports. SunTrust Banks assumed coverage on shares of Devon Energy in a report on Tuesday, July 30th. They issued a “buy” rating and a $33.00 target price on the stock. Guggenheim set a $35.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Co assumed coverage on Devon Energy in a report on Monday, May 20th. They set an “outperform” rating and a $40.00 price target for the company. Mitsubishi UFJ Financial Group boosted their price target on Devon Energy to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Seaport Global Securities restated a “buy” rating on shares of Devon Energy in a research note on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.09.

In other Devon Energy news, CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the transaction, the chief accounting officer now directly owns 42,475 shares of the company’s stock, valued at approximately $920,008.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Dividend History for Devon Energy (NYSE:DVN)

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