Devon Energy Co. (NYSE:DVN) Given Average Rating of “Moderate Buy” by Analysts

Devon Energy Co. (NYSE:DVN) has received an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $52.15.

DVN has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Raymond James decreased their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. Mizuho cut their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Susquehanna decreased their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DVN. Retirement Group LLC boosted its position in shares of Devon Energy by 21.8% during the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after acquiring an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after buying an additional 209 shares in the last quarter. Annex Advisory Services LLC increased its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after buying an additional 226 shares in the last quarter. Finally, Magnolia Capital Advisors LLC lifted its holdings in shares of Devon Energy by 1.0% during the 1st quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after acquiring an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 1.7 %

DVN stock opened at $40.01 on Thursday. The firm has a market capitalization of $25.05 billion, a PE ratio of 7.42, a P/E/G ratio of 1.18 and a beta of 2.03. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy has a twelve month low of $37.76 and a twelve month high of $55.09. The stock’s 50 day moving average is $40.81 and its 200-day moving average is $45.06.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. Sell-side analysts expect that Devon Energy will post 4.93 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

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.