Is it time to Buy before this week’s earning report Devon Energy (NYSE:DVN)

Earnings results for Devon Energy (NYSE:DVN)

Devon Energy Corporation is expected* to report earnings on 05/04/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.35. The reported EPS for the same quarter last year was $0.13.

Devon Energy last released its quarterly earnings data on February 16th, 2021. The energy company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The firm earned $1.28 billion during the quarter, compared to analyst estimates of $1.24 billion. Devon Energy has generated $1.38 earnings per share over the last year. Devon Energy has confirmed that its next quarterly earnings report will be published on Tuesday, May 4th, 2021. Devon Energy will be holding an earnings conference call on Tuesday, May 4th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Devon Energy (NYSE:DVN)

22 Wall Street analysts have issued ratings and price targets for Devon Energy in the last 12 months. Their average twelve-month price target is $23.68, predicting that the stock has a possible upside of 1.30%. The high price target for DVN is $37.00 and the low price target for DVN is $13.00. There are currently 2 hold ratings and 20 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Devon Energy has received a consensus rating of Buy. The company’s average rating score is 2.91, and is based on 20 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $23.68, Devon Energy has a forecasted upside of 1.3% from its current price of $23.38. Devon Energy has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Devon Energy (NYSE:DVN)

Devon Energy pays a meaningful dividend of 1.88%, higher than the bottom 25% of all stocks that pay dividends. Devon Energy has only been increasing its dividend for 3 years. The dividend payout ratio of Devon Energy is 31.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Devon Energy will have a dividend payout ratio of 72.13% next year. This indicates that Devon Energy will be able to sustain or increase its dividend.

Insiders buying/selling: Devon Energy (NYSE:DVN)

In the past three months, Devon Energy insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $622,646,138.00 in company stock. Only 0.59% of the stock of Devon Energy is held by insiders. 80.86% of the stock of Devon Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Devon Energy (NYSE:DVN

Earnings for Devon Energy are expected to grow in the coming year, from ($0.07) to $0.61 per share. The P/E ratio of Devon Energy is -2.73, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Devon Energy is -2.73, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Devon Energy has a PEG Ratio of 28.23. PEG Ratios above 1 indicate that a company could be overvalued. Devon Energy has a P/B Ratio of 1.52. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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