The Jefferies Group Comments on Devon Energy Corp.’s FY2016 Earnings (DVN)

The Jefferies Group Comments on Devon Energy Corp.’s FY2016 Earnings (DVN)

Devon Energy Corp. (NYSE:DVN) – Research analysts at Jefferies Group issued their FY2016 earnings per share (EPS) estimates for shares of Devon Energy Corp. in a research note issued to investors on Tuesday. Jefferies Group analyst M. Hsu expects that the firm will post earnings per share of ($0.11) for the year. Jefferies Group has a “Hold” rating and a $48.00 price target on the stock. Jefferies Group also issued estimates for Devon Energy Corp.’s Q4 2016 earnings at $0.22 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.70 EPS, Q3 2018 earnings at $0.81 EPS and Q4 2018 earnings at $0.93 EPS.

DVN has been the subject of several other reports. Bank of America Corp. set a $64.00 price objective on Devon Energy Corp. and gave the stock a “buy” rating in a research note on Monday, October 10th. Zacks Investment Research downgraded Devon Energy Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Seaport Global Securities raised Devon Energy Corp. from a “neutral” rating to a “buy” rating in a research note on Friday, December 9th. Wells Fargo & Co. downgraded Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research note on Wednesday, January 11th. Finally, RBC Capital Markets reissued a “buy” rating and issued a $54.00 price objective on shares of Devon Energy Corp. in a research note on Tuesday, January 3rd. Sixteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. Devon Energy Corp. currently has an average rating of “Buy” and an average price target of $43.73.

Devon Energy Corp. (NYSE:DVN) opened at 46.09 on Thursday. The firm’s market capitalization is $24.13 billion. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $50.69. The company’s 50-day moving average price is $47.20 and its 200 day moving average price is $42.78.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, March 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. Devon Energy Corp.’s dividend payout ratio (DPR) is presently -1.28%.

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Devon Energy Corp. by 28.3% in the second quarter. Acadian Asset Management LLC now owns 9,813 shares of the energy company’s stock worth $356,000 after buying an additional 2,166 shares during the period. Oakbrook Investments LLC boosted its stake in shares of Devon Energy Corp. by 118.6% in the second quarter. Oakbrook Investments LLC now owns 63,600 shares of the energy company’s stock worth $2,306,000 after buying an additional 34,500 shares during the period. Shell Asset Management Co. boosted its stake in shares of Devon Energy Corp. by 76.0% in the second quarter. Shell Asset Management Co. now owns 36,741 shares of the energy company’s stock worth $1,332,000 after buying an additional 15,862 shares during the period. MSI Financial Services Inc boosted its stake in shares of Devon Energy Corp. by 91.6% in the second quarter. MSI Financial Services Inc now owns 11,515 shares of the energy company’s stock worth $417,000 after buying an additional 5,505 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Devon Energy Corp. by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 34,400 shares of the energy company’s stock worth $1,247,000 after buying an additional 300 shares during the period. 76.22% of the stock is owned by institutional investors and hedge funds.

Devon Energy Corp. Company Profile

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

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