Headlines about Devon Energy (NYSE:DVN) have trended somewhat positive on Saturday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Devon Energy earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave media coverage about the energy company an impact score of 46.0974995022489 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- Comprehensive Stock Analysis – Devon Energy Corporation (NYSE: DVN) – Alpha Beta Stock (alphabetastock.com)
- What’s Happening With These Independent Oil & Gas Stocks? — Devon Energy, Diamondback Energy, and Energen (prnewswire.com)
- Devon Energy Announces Pricing of Tender Offers (bizjournals.com)
- Devon (DVN) Down 9% Since Earnings Report: Can It Rebound? (zacks.com)
- Devon Energy Announces Pricing of Tender Offers – Business Wire (press release) (businesswire.com)
Several equities research analysts have recently weighed in on DVN shares. Jefferies Group reiterated a “buy” rating and set a $52.00 target price on shares of Devon Energy in a research note on Tuesday, January 30th. Seaport Global Securities upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Credit Suisse Group set a $50.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research note on Friday, February 2nd. Finally, Wolfe Research upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $45.60.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 20th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.22). Devon Energy had a net margin of 10.04% and a return on equity of 6.92%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 41.8% on a year-over-year basis. analysts predict that Devon Energy will post 1.94 earnings per share for the current fiscal year.
Devon Energy declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the energy company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, June 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. Devon Energy’s dividend payout ratio (DPR) is 9.06%.
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About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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