Shares of Devon Energy Corp. (NYSE:DVN) have earned an average recommendation of “Buy” from the thirty-eight ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, nineteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $42.44.
A number of equities research analysts have commented on the company. Deutsche Bank AG reiterated a “buy” rating on shares of Devon Energy Corp. in a report on Sunday, July 17th. Scotiabank restated a “focus stock” rating and set a $61.00 price objective (up previously from $50.00) on shares of Devon Energy Corp. in a report on Monday, July 11th. BMO Capital Markets restated a “buy” rating and set a $40.00 price objective (up previously from $35.00) on shares of Devon Energy Corp. in a report on Monday, June 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Devon Energy Corp. in a report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $41.00 price objective (up previously from $39.00) on shares of Devon Energy Corp. in a report on Thursday, July 7th.
Devon Energy Corp. (NYSE:DVN) traded down 0.65% during midday trading on Tuesday, hitting $44.10. The company had a trading volume of 2,210,246 shares. The stock has a 50 day moving average of $42.89 and a 200 day moving average of $37.22. The firm’s market cap is $23.09 billion. Devon Energy Corp. has a 52-week low of $18.07 and a 52-week high of $48.68.
Devon Energy Corp. (NYSE:DVN) last announced its earnings results on Tuesday, August 2nd. The energy company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.25. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.29 million. Devon Energy Corp. had a positive return on equity of 3.62% and a negative net margin of 114.09%. Devon Energy Corp.’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, analysts anticipate that Devon Energy Corp. will post ($0.29) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.24 annualized dividend and a yield of 0.54%. Devon Energy Corp.’s payout ratio is -0.82%.
Large investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Devon Energy Corp. by 20.8% in the second quarter. IFP Advisors Inc now owns 2,806 shares of the energy company’s stock valued at $102,000 after buying an additional 483 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in Devon Energy Corp. by 738.7% in the second quarter. Ropes Wealth Advisors LLC now owns 3,338 shares of the energy company’s stock valued at $121,000 after buying an additional 2,940 shares in the last quarter. Hall Laurie J Trustee boosted its position in Devon Energy Corp. by 13.7% in the second quarter. Hall Laurie J Trustee now owns 3,745 shares of the energy company’s stock valued at $141,000 after buying an additional 450 shares in the last quarter. RS Investment Management Co. LLC bought a new position in Devon Energy Corp. during the second quarter valued at about $144,000. Finally, Point72 Asia Hong Kong Ltd boosted its position in Devon Energy Corp. by 91.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,600 shares of the energy company’s stock valued at $167,000 after buying an additional 2,200 shares in the last quarter. 75.62% of the stock is currently owned by hedge funds and other institutional investors.
About Devon Energy Corp.
Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
Receive News & Ratings for Devon Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.