Stock Update (NYSE:DVN): Devon Energy Reports First-Quarter 2016 Results

[Business Wire] – Devon Energy Corp. today reported operational and financial results for the first quarter of 2016 and provided guidance for the second quarter and full-year 2016. Read more on this. Devon Energy Corporation (DVN) , with a current market cap of $17.16B, began trading this morning at $33.79. Looking at today’s market, DVN one day range is $32.40 to $33.98 with a one year range of $18.07 to $70.48. DVN shares are currently priced at -26.38x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 3.39x forward p/e ratio. And for income investors, the company pays shareholders $0.24 per share annually in dividends, yielding 0.69%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $-0.64 per share, which would be $0.22 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-1.31 which would be a $3.83 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.57 Billion. If realized, that would be a 21.17% decrease over the year-ago quarter. Recently, Wunderlich Initiated DVN at Buy (Apr 27, 2016). Previously, Morgan Stanley upgraded DVN from Equal-Weight to Overweight. The average price target for DVN shares is $34.95, which is 3.43% above where the stock opened this morning. See more in (NYSE:DVN) Similar Articles: Market Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy to Report First-Quarter 2016 Results May 3; Conference Call Scheduled for May 4 Stock Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy Corporation Announces Offering of Common Stock Company Update: Devon Energy Corporation (NYSE:DVN) – Devon Energy to Report Fourth-Quarter and Full-Year 2015 Results Feb. 16; Conference Call Scheduled for Feb. 17
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