Shares of Devon Energy Corp (NYSE:DVN) have been given a consensus rating of “Buy” by the twenty research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.31.
A number of equities research analysts have recently issued reports on DVN shares. BMO Capital Markets set a $38.00 price objective on Devon Energy Corp and gave the stock a “buy” rating in a research note on Monday, August 28th. Citigroup Inc. dropped their price objective on Devon Energy Corp from $52.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada set a $43.00 price objective on Devon Energy Corp and gave the stock a “buy” rating in a research note on Friday, August 25th. Stifel Nicolaus set a $61.00 price target on Devon Energy Corp and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, BidaskClub cut Devon Energy Corp from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.
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Shares of Devon Energy Corp (DVN) traded down 0.33% during midday trading on Thursday, hitting $35.73. 3,160,791 shares of the stock traded hands. Devon Energy Corp has a 12-month low of $28.79 and a 12-month high of $50.69. The firm’s 50 day moving average price is $34.37 and its 200 day moving average price is $34.70. The company has a market capitalization of $18.78 billion, a PE ratio of 8.08 and a beta of 2.21.
Devon Energy Corp (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corp had a return on equity of 25.21% and a net margin of 13.84%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was up 31.6% compared to the same quarter last year. Analysts expect that Devon Energy Corp will post $1.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corp’s dividend payout ratio is 5.47%.
In other news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investec Asset Management LTD grew its holdings in shares of Devon Energy Corp by 6.5% during the 1st quarter. Investec Asset Management LTD now owns 571,980 shares of the energy company’s stock worth $23,863,000 after purchasing an additional 35,008 shares in the last quarter. Shapiro Capital Management LLC grew its holdings in shares of Devon Energy Corp by 2.2% during the 1st quarter. Shapiro Capital Management LLC now owns 1,306,283 shares of the energy company’s stock worth $54,498,000 after purchasing an additional 28,695 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Devon Energy Corp by 2.3% during the 1st quarter. Teachers Advisors LLC now owns 939,950 shares of the energy company’s stock worth $39,215,000 after purchasing an additional 20,850 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Devon Energy Corp by 4.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,953,530 shares of the energy company’s stock worth $62,455,000 after purchasing an additional 87,912 shares in the last quarter. Finally, Janus Capital Management LLC grew its holdings in shares of Devon Energy Corp by 408.1% during the 1st quarter. Janus Capital Management LLC now owns 2,572,931 shares of the energy company’s stock worth $107,342,000 after purchasing an additional 2,066,530 shares in the last quarter. 77.00% of the stock is currently owned by institutional investors.
About Devon Energy Corp
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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