Devon Energy (NYSE:DVN) Trading Down 0.6%

Devon Energy Co. (NYSE:DVN) fell 0.6% on Friday . The company traded as low as $52.11 and last traded at $52.28. 1,436,260 shares were traded during mid-day trading, a decline of 82% from the average session volume of 7,816,537 shares. The stock had previously closed at $52.61.

Analyst Ratings Changes

A number of analysts recently commented on DVN shares. Truist Financial lifted their price target on Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Stifel Nicolaus increased their price target on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James decreased their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. UBS Group boosted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, Scotiabank raised their price target on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Devon Energy Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The stock has a market cap of $33.48 billion, a P/E ratio of 9.04 and a beta of 2.19. The firm’s fifty day moving average price is $48.70 and its two-hundred day moving average price is $46.13.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the firm posted $1.66 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.34%. Devon Energy’s dividend payout ratio is presently 15.09%.

Institutional Trading of Devon Energy

A number of hedge funds have recently made changes to their positions in DVN. Lord Abbett & CO. LLC boosted its holdings in shares of Devon Energy by 15.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock worth $26,221,000 after purchasing an additional 73,570 shares in the last quarter. Nordea Investment Management AB grew its position in Devon Energy by 2.7% during the third quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock valued at $17,974,000 after acquiring an additional 9,823 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Devon Energy by 64.4% in the 3rd quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock valued at $2,606,000 after purchasing an additional 21,400 shares in the last quarter. Pearl River Capital LLC grew its holdings in shares of Devon Energy by 367.7% during the 3rd quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock valued at $3,580,000 after purchasing an additional 58,997 shares during the last quarter. Finally, Argent Trust Co raised its position in Devon Energy by 22.1% in the 3rd quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock worth $4,140,000 after purchasing an additional 15,715 shares during the period. 69.72% of the stock is owned by 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.