Devon Energy Corporation (DVN) To Go Ex-Dividend on June 15th

Devon Energy Corporation (NYSE:DVN) announced a quarterly dividend on Thursday, May 7th. Investors of record on Monday, June 15th will be paid a dividend of 0.32 per share by the energy company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. This is a 33.3% increase from Devon Energy’s previous quarterly dividend of $0.24.

Devon Energy has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Devon Energy has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Devon Energy to earn $4.86 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 26.3%.

Devon Energy Price Performance

Shares of DVN stock opened at $45.26 on Friday. Devon Energy has a 1-year low of $31.45 and a 1-year high of $52.71. The stock’s 50-day moving average is $47.04 and its 200 day moving average is $43.09. The company has a market cap of $28.13 billion, a P/E ratio of 12.61 and a beta of 0.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the business earned $0.82 EPS. Devon Energy’s revenue for the quarter was down 14.5% compared to the same quarter last year. Research analysts predict that Devon Energy will post 4.72 earnings per share for the current fiscal year.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.