Devon Energy Corporation (NYSE:DVN) Receives $44.31 Average PT from Brokerages

Shares of Devon Energy Corporation (NYSE:DVN) have been assigned an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.5517.

Several analysts have commented on the company. Benchmark reissued a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Royal Bank Of Canada set a $42.00 price target on shares of Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. Siebert Williams Shank increased their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday. Jefferies Financial Group lifted their target price on shares of Devon Energy from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Finally, Barclays upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st.

Institutional Trading of Devon Energy

A number of institutional investors have recently made changes to their positions in DVN. PFS Partners LLC acquired a new position in shares of Devon Energy during the 3rd quarter valued at about $25,000. First Horizon Corp purchased a new position in Devon Energy during the third quarter worth about $26,000. Caldwell Trust Co acquired a new position in Devon Energy in the 2nd quarter valued at about $25,000. Ameriflex Group Inc. grew its stake in shares of Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after buying an additional 702 shares during the period. Finally, Accredited Wealth Management LLC grew its stake in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.0%

Shares of Devon Energy stock opened at $38.63 on Friday. The firm has a 50-day simple moving average of $36.64 and a two-hundred day simple moving average of $34.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $39.38. The company has a market cap of $24.23 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 3.50 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. Devon Energy’s dividend payout ratio is presently 22.59%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.