By otakuyassine3@gmail.com 
Devon Energy Co. (NYSE:DVN – Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders bought 95,368 put options on the stock. This is an increase of 219% compared to the average volume of 29,863 put options.
Analyst Ratings Changes
Several research analysts recently weighed in on DVN shares. TD Cowen reduced their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Raymond James reduced their price target on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Finally, Evercore ISI dropped their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Hold” and a consensus price target of $50.05.
Get Our Latest Stock Report on DVN
Institutional Trading of Devon Energy
Several institutional investors have recently modified their holdings of DVN. Independent Solutions Wealth Management LLC boosted its holdings in shares of Devon Energy by 38.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 13,781 shares of the energy company’s stock valued at $539,000 after acquiring an additional 3,797 shares during the period. Principal Financial Group Inc. increased its stake in Devon Energy by 1.0% in the third quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company’s stock valued at $28,635,000 after purchasing an additional 7,487 shares during the period. IMS Capital Management raised its holdings in shares of Devon Energy by 49.3% in the third quarter. IMS Capital Management now owns 18,660 shares of the energy company’s stock valued at $730,000 after buying an additional 6,165 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Devon Energy by 90.1% during the third quarter. Franklin Resources Inc. now owns 1,363,090 shares of the energy company’s stock worth $58,435,000 after buying an additional 646,045 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in shares of Devon Energy by 13.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 137,427 shares of the energy company’s stock valued at $5,377,000 after purchasing an additional 15,929 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Devon Energy Stock Down 0.4 %
DVN traded down $0.13 during trading hours on Thursday, hitting $31.11. 8,557,414 shares of the company’s stock were exchanged, compared to its average volume of 7,791,887. Devon Energy has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a 50 day moving average of $37.02 and a 200 day moving average of $41.68. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.44 billion, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. Analysts predict that Devon Energy will post 4.79 EPS for the current fiscal year.
Devon Energy Announces Dividend
The business 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.83%. Devon Energy’s payout ratio is currently 16.33%.
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.
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