FY2025 EPS Estimates for Devon Energy Boosted by Scotiabank

Devon Energy Co. (NYSE:DVN) – Equities research analysts at Scotiabank upped their FY2025 earnings per share estimates for shares of Devon Energy in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the energy company will post earnings of $4.50 per share for the year, up from their previous forecast of $4.20. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share. Scotiabank also issued estimates for Devon Energy’s FY2026 earnings at $4.95 EPS.

Several other brokerages have also recently issued reports on DVN. Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Mizuho decreased their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Stock Performance

NYSE:DVN opened at $36.96 on Monday. Devon Energy has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a market cap of $23.99 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $35.46 and a 200 day moving average price of $36.92.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion.

Hedge Funds Weigh In On Devon Energy

Institutional investors have recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Devon Energy during the third quarter worth about $806,000. PNC Financial Services Group Inc. raised its position in Devon Energy by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 174,495 shares of the energy company’s stock worth $6,826,000 after acquiring an additional 22,534 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Devon Energy by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,881,720 shares of the energy company’s stock valued at $151,853,000 after acquiring an additional 69,442 shares during the period. Nwam LLC purchased a new stake in shares of Devon Energy during the 3rd quarter worth $562,000. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Devon Energy by 17.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,226 shares of the energy company’s stock worth $283,000 after purchasing an additional 1,073 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Devon Energy Company Profile

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.