This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Devon Energy Corporation, an S&P 100 constituent, is an independent oil and gas exploration and production company, mainly focused on the U.S. and Canada (about 88% of production). They also own many of the natural gas pipelines and treatment facilities in their production areas. Devon produces over 2 billion cubic feet of natural gas each day, about 3 percent of all the gas consumed in North America; natural gas being about 60% of the company’s production mix.

• This valuation is much more attractive than that of the S&P 500.
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• Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency.
• This suggests an expectation of decrease dividend payments over the next 12 months.

In addition, Devon offers an especially juicy dividend yield of close to 8.2%. The oil and gas producer has a unique fixed-plus-variable dividend program with a payout that has more than tripled since the second quarter of 2021. Learn more about dividend stocks, including information about important dividend dates, the advantages of dividend stocks, dividend yield, and much more in our financial education center.

Finding out the Ex-Dividend Date for a Stock’s Dividend

This is up from $73.76/barrel in Q2, a very sizeable increase. Yet, DVN is now at the lowest price so far in 2023, even exceeding the low set in March during the brief banking ‘crisis’ that developed after the run on Silicon Valley Bank. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.

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• A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.
• More importantly, this level of income also leaves around $300 million that stays internal to DVN as its 50% portion of FCF.

And over the past decade, Devon Energy Corp’s annual dividends per share growth rate stands at 7.40%. Devon Energy Corp has maintained a consistent dividend payment record since 1993. Below is a chart showing annual Dividends Per Share for tracking historical trends. Dividend decisions can be influenced by what other companies in the same industry are doing.

Here are three dividend stocks to buy hand over fist in November. Schedule monthly income from dividend stocks with a monthly payment frequency. The last dividend paid out to investors was $0.52 on June 30, 2023. The timing and volume of share repurchases under this authorization will be determined by management at its discretion. Share repurchases under the program may be made through a variety of methods, including open market purchases or private transactions. The stock repurchase program may be discontinued at any time.

The most recent change in the company’s dividend was a decrease of $0.23 on Tuesday, August 1, 2023. Over the past three years, the company’s dividend has grown by an average of 145.36% per year. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment 12trader forex broker review returns. The future for Brookfield Renewable is getting even brighter thanks to key acquisitions. In September, the company announced its acquisition of Scout Clean Energy for $1 billion. In October, Brookfield Renewable and Cameco teamed up to acquire nuclear power provider Westinghouse Electric.

Stockholders will receive one share of Cyngn common stock for every ten shares of Cyngn common stock they hold on the Record Date. Fractional shares of Cyngn common stock will be rounded up to receive one whole share of Cyngn common stock. Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment. While Devon Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys. I have laid out my bullish case for Devon over a long term horizon. I acknowledge that, as pointed out by JR Research, the irrationality of the stock market may overpower logic here in the near term.

Devon Energy Corp. DVN

Running these variables through my model and the slight increase in average natural gas price in Q3 of $2.59/MCF generates net earnings of about $1.07 billion. This is up 53% from Q2 when DVN only registered net earnings of $698 million. This number was calculated using midpoint projections provided by DVN for production, price realizations, taxes and expenses. I propose an explanation for investors looking to understand this price performance as well as a target price to accumulate shares. The current price creates a valuable value to price dislocation for DVN that can be extremely valuable both in the near and long term. Devon Energy’s most recent quarterly dividend payment of $0.49 per share was made to shareholders on Friday, September 29, 2023.

Devon Energy (DVN) Dividend Yield, Date & History

I can work backward from my payout projection of $0.60/share to derive a conservative mid-cycle price of $48/share. This shows that DVN is being valued at a price that is 10% undervalued compared to a fair mid-cycle price. As part of the second-quarter trade99 review dividend announcement, the board approved an increase in the fixed dividend of 13 percent or $0.02 per share. The company’s fixed-plus-variable dividend is payable on Sep. 30, 2022 to shareholders of record at the close of business on Sep. 12, 2022.

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Citigroup decreased their target price on Devon Energy from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, September 20th. Raymond James dropped their target price on shares of Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Finally, UBS Group upped their price target on shares of Devon Energy from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average price target of $63.17.

Company Profile

This presents investors with the opportunity to invest at more attractive entry points, and also the opportunity to trim their profits when they potentially become overvalued. You may need a strong stomach at times, but this can be counteracted by having a clear vision of what price DVN represents for a solid value purchase. Thanks to a fairly simple business model and highly public commodity prices, this can be derived from some basic math.

Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. fxcm canada review Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Devon Energy from $54.00 to $58.00 in a research report on Wednesday, September 27th. Piper Sandler reduced their price objective on shares of Devon Energy from $72.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, August 14th.

Devon has paid quarterly dividends continuously since 1993 and has increased its dividend at an average annual rate of 24% since 2004. I believe the recent price performance is the culmination of individual investors finally having enough after several quarters of falling dividends. While in my opinion this should not have been expected, the market as a whole never tends to respond rationally.