Devon Energy (NYSE:DVN) Shares Down 0.8% – Time to Sell?

Devon Energy Co. (NYSE:DVN)’s share price traded down 0.8% during trading on Tuesday . The company traded as low as $34.92 and last traded at $35.05. 1,281,555 shares traded hands during trading, a decline of 87% from the average session volume of 9,908,402 shares. The stock had previously closed at $35.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Barclays decreased their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Price Performance

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 company has a market capitalization of $22.91 billion, a PE ratio of 6.47, a PEG ratio of 1.21 and a beta of 2.00. The firm has a 50-day moving average of $35.20 and a 200 day moving average of $39.78.

Devon Energy (NYSE:DVN) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. As a group, research analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.52%. Devon Energy’s payout ratio is 16.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DVN. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy in the third quarter worth about $461,857,000. EnCap Partners GP LLC purchased a new position in Devon Energy in the third quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC lifted its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 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.