Q1 2021 Earnings Forecast for Devon Energy Co. Issued By Truist Securiti (NYSE:DVN)


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Devon Energy Co. (NYSE:DVN) – Investment analysts at Truist Securiti cut their Q1 2021 earnings estimates for shares of Devon Energy in a report issued on Sunday, April 11th. Truist Securiti analyst N. Dingmann now expects that the energy company will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.50. Truist Securiti also issued estimates for Devon Energy’s Q2 2021 earnings at $0.36 EPS, FY2021 earnings at $1.66 EPS, Q2 2022 earnings at $0.56 EPS, FY2022 earnings at $2.25 EPS and FY2023 earnings at $2.61 EPS.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 16th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Devon Energy had a positive return on equity of 2.38% and a negative net margin of 62.68%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share.

DVN has been the topic of several other reports. Truist raised their price target on Devon Energy from $30.00 to $35.00 in a research report on Monday, March 8th. Siebert Williams Shank restated a “buy” rating and set a $17.00 price target on shares of Devon Energy in a research report on Wednesday, January 13th. Raymond James raised their price target on Devon Energy from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. Citigroup increased their price objective on Devon Energy from $24.00 to $29.00 in a report on Tuesday, March 23rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Devon Energy from $24.00 to $29.00 in a report on Tuesday, March 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Devon Energy has an average rating of “Buy” and a consensus price target of $22.82.

DVN opened at $22.37 on Wednesday. The stock’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $16.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.03 and a quick ratio of 2.03. Devon Energy has a 1 year low of $7.73 and a 1 year high of $26.13. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of -2.62, a PEG ratio of 28.23 and a beta of 3.46.

A number of large investors have recently made changes to their positions in DVN. Impala Asset Management LLC purchased a new position in Devon Energy during the fourth quarter valued at $33,306,000. ExodusPoint Capital Management LP purchased a new position in Devon Energy during the fourth quarter valued at $33,102,000. Nuveen Asset Management LLC raised its stake in Devon Energy by 50.4% during the fourth quarter. Nuveen Asset Management LLC now owns 5,436,119 shares of the energy company’s stock valued at $85,945,000 after buying an additional 1,822,067 shares during the last quarter. Schroder Investment Management Group raised its stake in Devon Energy by 87.0% during the fourth quarter. Schroder Investment Management Group now owns 3,503,554 shares of the energy company’s stock valued at $55,391,000 after buying an additional 1,629,634 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Devon Energy by 16,330.8% during the fourth quarter. Captrust Financial Advisors now owns 1,500,460 shares of the energy company’s stock valued at $23,722,000 after buying an additional 1,491,328 shares during the last quarter. Institutional investors and hedge funds own 80.86% of the company’s stock.

In other news, Director Felix Investments Holdings Ii, sold 29,579,389 shares of the firm’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $21.05, for a total value of $622,646,138.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.

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. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Earnings History and Estimates for Devon Energy (NYSE:DVN)

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