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Market Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy to Report First-Quarter 2016 Results May 3; Conference Call Scheduled for May 4

[Business Wire] – Devon Energy Corp. today announced plans to issue its first-quarter 2016 earnings news release on Tuesday, May 3, after the close of U.S. financial markets. Please note as soon as practicable after the news release is issued, Devon will post an operations report to its website at www.devonenergy.com. Read more on this. Devon Energy Corporation (DVN) , valued at $17.02B, started trading this morning at $32.90. Looking at today’s trading action, the company’s one day range from $32.45 to $33.95 with the price of the stock fluctuating between $18.07 to $70.48 over the last 52 weeks. DVN shares are currently priced at -25.60x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -1.75x earnings multiple. The company pays shareholders $0.24 per share annually in dividends, yielding 0.76%. According to a consensus of 26 analysts, the earnings estimate of $-0.62 per share would be $0.22 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-1.25 which would be a $3.77 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.60 Billion. If realized, that would be a 20.25% decrease over the year-ago quarter. Recently, Barclays upgraded DVN from Equal Weight to Overweight (Jan 11, 2016). Previously, Guggenheim upgraded DVN from Neutral to Buy. Investors should keep in mind is that the average price target is $32.66, which is 0.73% below where the stock opened this morning. See more in (NYSE:DVN) Similar Articles: Stock Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Corporation Announces Offering of Common Stock Company Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy to Report Fourth-Quarter and Full-Year 2015 Results Feb. 16; Conference Call Scheduled for Feb. 17 Market Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Reports Third-Quarter 2015 Results
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