Devon Energy Corporation Announces Quarterly Dividend of $0.24 (NYSE:DVN)

Devon Energy Corporation (NYSE:DVN) declared a quarterly dividend on Tuesday, February 17th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.24 per share by the energy company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th.

Devon Energy has raised its dividend by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Devon Energy has a dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Devon Energy to earn $5.00 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 19.2%.

Devon Energy Price Performance

DVN stock traded up $0.27 during midday trading on Wednesday, reaching $44.31. 2,352,956 shares of the company’s stock traded hands, compared to its average volume of 10,889,743. The company has a 50-day simple moving average of $38.52 and a two-hundred day simple moving average of $35.91. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Devon Energy has a 1-year low of $25.89 and a 1-year high of $45.32. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 4.06 and a beta of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

About Devon Energy

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.