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

Devon Energy Corporation (NYSE:DVN) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Monday, December 15th will be given a dividend of 0.24 per share by the energy company on Tuesday, December 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th.

Devon Energy has increased its dividend payment 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 payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE:DVN opened at $32.31 on Thursday. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 2.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $40.54. The stock has a fifty day moving average price of $34.09 and a 200-day moving average price of $33.22.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, equities analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.