Devon Energy (NYSE:DVN – Get Free Report) released its quarterly earnings results on Tuesday. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15, Briefing.com reports. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share.
Devon Energy Price Performance
NYSE:DVN traded up $1.48 on Thursday, reaching $44.65. The stock had a trading volume of 2,747,757 shares, compared to its average volume of 7,256,978. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $28.22 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07. Devon Energy has a 1-year low of $40.47 and a 1-year high of $55.09. The stock has a fifty day moving average price of $46.47 and a 200-day moving average price of $47.23.
Devon Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.
Analysts Set New Price Targets
About Devon Energy
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.
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