Devon Energy (DVN) Stock Rating Reaffirmed by Barclays

Barclays reaffirmed their buy rating on shares of Devon Energy (NYSE:DVN) in a research report released on Sunday morning. Barclays currently has a $39.00 price objective on the energy company’s stock.

A number of other research firms have also weighed in on DVN. BMO Capital Markets set a $38.00 price objective on Devon Energy and gave the company a buy rating in a research report on Monday, August 28th. Jefferies Group reaffirmed a hold rating and set a $31.00 price objective (down previously from $35.00) on shares of Devon Energy in a research report on Tuesday, August 29th. Stifel Nicolaus reissued a buy rating and issued a $67.00 target price on shares of Devon Energy in a report on Sunday, September 3rd. Piper Jaffray Companies reduced their target price on Devon Energy from $46.00 to $36.00 and set a neutral rating for the company in a report on Monday, September 18th. Finally, Cowen reissued a buy rating and issued a $40.00 target price on shares of Devon Energy in a report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. Devon Energy presently has a consensus rating of Buy and a consensus price target of $45.83.

Devon Energy (NYSE DVN) opened at $41.84 on Friday. Devon Energy has a 52-week low of $28.79 and a 52-week high of $49.45. The stock has a market capitalization of $21,990.00, a P/E ratio of 14.23, a PEG ratio of 1.29 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.07. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. research analysts expect that Devon Energy will post 1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. Devon Energy’s dividend payout ratio is presently 8.16%.

In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the sale, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at $2,599,891. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Devon Energy by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after acquiring an additional 1,295,417 shares during the last quarter. State Street Corp increased its stake in Devon Energy by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after acquiring an additional 265,179 shares during the last quarter. Standard Life Investments LTD increased its stake in Devon Energy by 1.3% during the second quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after acquiring an additional 75,952 shares during the last quarter. Northern Trust Corp increased its stake in Devon Energy by 0.3% during the second quarter. Northern Trust Corp now owns 5,955,294 shares of the energy company’s stock worth $190,390,000 after acquiring an additional 18,861 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Devon Energy by 21.6% during the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after acquiring an additional 988,090 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

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Devon Energy Company Profile

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).

Analyst Recommendations for Devon Energy (NYSE:DVN)

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