Devon Energy Co. (DVN) To Go Ex-Dividend on December 13th

Devon Energy Co. (NYSE:DVN) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.22 per share by the energy company on Monday, December 30th. This represents a $0.88 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, December 13th.

Devon Energy has raised its dividend payment by an average of 48.3% per year over the last three years. Devon Energy has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Devon Energy to earn $5.28 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 16.7%.

Devon Energy Stock Down 0.4 %

DVN stock opened at $39.87 on Thursday. Devon Energy has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market cap of $24.97 billion, a P/E ratio of 7.26, a PEG ratio of 1.20 and a beta of 2.03. The business’s 50-day moving average price is $40.72 and its 200-day moving average price is $45.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, equities research analysts forecast that Devon Energy will post 4.93 EPS for the current year.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent analyst reports. Raymond James dropped their price objective on Devon Energy from $58.00 to $51.00 in a research report on Tuesday. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Barclays dropped their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley dropped their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Susquehanna dropped their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.85.

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.