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Stock Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Announces Third-Quarter Cash Dividend for Common Stockholders

[Business Wire] – Devon Energy Corp. today announced that its board of directors declared a quarterly cash dividend on Devon’s common stock for the third quarter of 2016. The dividend is payable on Sept. Read more on this. Devon Energy Corporation (DVN) , with a current market cap of $19.95B, started the session at $39.14. Looking at today’s market, DVN one day range is $37.97 to $39.47 and has traded between $18.07 and $64.07 over the past 12 months. DVN shares are currently priced at -40.38x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -8.28x earnings multiple for the same period. And for passive income investors, the company pays shareholders $0.24 per share annually in dividends, yielding 0.64%. In a review of the consensus earnings estimate this quarter, 28 sell-side analysts are looking at $-0.26 per share, which would be $0.78 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $-0.96 is a $3.48 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.26 Billion. If realized, that would be a 33.33% decrease over the year-ago quarter. More recently, Johnson Rice upgraded DVN from Hold to Accumulate (May 19, 2016). Previously, Wunderlich Initiated DVN at to Buy. The average price target for DVN shares by the analysts covering it is $38.66, which is 1.23% below where the stock opened. See more in (NYSE:DVN) Similar Articles: Company Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Announces Additional $1 Billion of Upstream Asset Sales Market Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy to Report First-Quarter 2016 Results May 3; Conference Call Scheduled for May 4 Stock Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Corporation Announces Offering of Common Stock
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