By otakuyassine3@gmail.com 
Devon Energy Co. (NYSE:DVN – Get Free Report)’s share price was down 1.5% during trading on Monday . The company traded as low as $35.33 and last traded at $35.43. Approximately 2,584,915 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 9,968,544 shares. The stock had previously closed at $35.96.
Analysts Set New Price Targets
A number of brokerages recently weighed in on DVN. Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets reduced their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.
Check Out Our Latest Stock Report on Devon Energy
Devon Energy Price Performance
The company has a 50 day moving average of $35.14 and a 200 day moving average of $39.70. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.
Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $1.65 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 4.7 EPS for the current fiscal year.
Devon Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. Devon Energy’s dividend payout ratio is presently 16.33%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the third quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy in the third quarter valued at approximately $39,000. True Wealth Design LLC lifted its position in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. Finally, Activest Wealth Management increased its position in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.
Devon Energy Company Profile
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.
Further Reading
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