By otakuyassine3@gmail.com 
Devon Energy Co. (NYSE:DVN – Get Free Report)’s share price was down 0.1% on Monday . The stock traded as low as $30.52 and last traded at $30.73. Approximately 2,089,446 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 7,759,850 shares. The stock had previously closed at $30.77.
Analyst Ratings Changes
Several research firms recently issued reports on DVN. Raymond James dropped their price objective on Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. UBS Group dropped their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Evercore ISI decreased their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays decreased their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.05.
Check Out Our Latest Stock Analysis on DVN
Devon Energy Stock Up 0.8 %
The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market capitalization of $20.52 billion, a PE ratio of 5.80, a PEG ratio of 1.10 and a beta of 1.99. The company has a 50 day moving average price of $37.21 and a 200-day moving average price of $41.76.
Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $1.65 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.
Devon Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.
Institutional Trading of Devon Energy
A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after buying an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy during the third quarter valued at $461,857,000. Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC purchased a new position in shares of Devon Energy in the 3rd quarter worth about $408,653,000. Finally, Victory Capital Management Inc. boosted its stake in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares in the last quarter. 69.72% of the stock is owned by institutional investors.
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.
Featured Stories
Receive News & Ratings for Devon Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Devon Energy and related companies with MarketBeat.com’s FREE daily email newsletter.