Devon Energy Corporation (NYSE:DVN) to Issue Quarterly Dividend of $0.32

Devon Energy Corporation (NYSE:DVN) declared a quarterly dividend on Thursday, November 5th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.32 per share by the energy company on Wednesday, December 30th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 15th.

Devon Energy has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 1 years. Devon Energy has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Devon Energy to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 23.9%.

Devon Energy Trading Down 2.9%

DVN stock opened at $42.85 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy has a 12-month low of $32.06 and a 12-month high of $52.71. The stock has a market cap of $47.13 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.15 and a beta of 0.43. The business’s 50-day moving average is $48.74 and its 200 day moving average is $46.01.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Thursday, November 5th. The energy company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.33 by $0.09. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the business earned $1.04 EPS. Devon Energy’s quarterly revenue was up 66.5% on a year-over-year basis. On average, sell-side analysts anticipate that Devon Energy will post 5.49 EPS for the current fiscal year.

About Devon Energy

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.