Devon Energy Corp (NYSE:DVN) has been assigned an average rating of “Hold” from the twenty-eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.00.
Several research analysts recently weighed in on DVN shares. Zacks Investment Research cut shares of Devon Energy from a “hold” rating to a “strong sell” rating in a report on Thursday, January 3rd. Johnson Rice cut shares of Devon Energy from a “buy” rating to an “accumulate” rating in a report on Tuesday, January 8th. Barclays cut shares of Devon Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $42.00 to $33.00 in a report on Wednesday, January 16th. Morgan Stanley set a $33.00 price target on shares of Devon Energy and gave the stock a “hold” rating in a report on Tuesday, January 29th. Finally, Ifs Securities restated a “market perform” rating on shares of Devon Energy in a report on Monday, February 11th.
Shares of NYSE:DVN traded up $0.34 during midday trading on Tuesday, hitting $33.55. 7,864,627 shares of the company’s stock were exchanged, compared to its average volume of 5,976,160. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market cap of $14.70 billion, a PE ratio of 26.01, a PEG ratio of 1.23 and a beta of 2.26. Devon Energy has a 12 month low of $20.37 and a 12 month high of $46.54.
Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 19th. The energy company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.21). The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $1.97 billion. Devon Energy had a return on equity of 5.73% and a net margin of 24.82%. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts expect that Devon Energy will post 1.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. This is a boost from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, June 13th. Devon Energy’s payout ratio is presently 24.81%.
In related news, Director Robert H. Henry bought 11,651 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were purchased at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the purchase, the director now directly owns 21,355 shares in the company, valued at $640,863.55. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in Devon Energy by 13.5% in the first quarter. Strs Ohio now owns 6,872 shares of the energy company’s stock valued at $216,000 after acquiring an additional 818 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Devon Energy by 25.5% in the first quarter. Nisa Investment Advisors LLC now owns 117,462 shares of the energy company’s stock valued at $3,707,000 after acquiring an additional 23,900 shares during the last quarter. Centre Asset Management LLC boosted its stake in Devon Energy by 38.1% in the first quarter. Centre Asset Management LLC now owns 269,740 shares of the energy company’s stock valued at $8,513,000 after acquiring an additional 74,420 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Devon Energy in the first quarter valued at about $182,000. Finally, Meeder Asset Management Inc. boosted its stake in Devon Energy by 94.6% in the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 87.04% of the company’s stock.
About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
Recommended Story: How to use beta for portfolio diversification
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.