Devon Energy Co. Plans Quarterly Dividend of $0.22 (DVN)

Devon Energy (NYSE:DVN) declared a quarterly dividend on Wednesday, June 5th, StockRatingsNetwork reports. Shareholders of record on Friday, September 13th will be given a dividend of $0.22 per share on Monday, September 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.55%.

A number of research firms have also recently commented on DVN. Analysts at TheStreet reiterated a “hold” rating on shares of Devon Energy in a research note to investors on Monday. On a related note, analysts at JP Morgan Cazenove upgraded shares of Devon Energy from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, May 28th. They now have a $62.50 price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Devon Energy in a research note to investors on Friday, May 24th. They now have a $66.00 price target on the stock.

Fifteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.86.

Shares of Devon Energy (NYSE: DVN) opened at 56.64 on Thursday. Devon Energy has a 52 week low of $50.81 and a 52 week high of $63.95. The stock’s 50-day moving average is currently $56.7. The company’s market cap is $22.996 billion.

Devon Energy (NYSE: DVN) last announced its earnings results on Wednesday, May 1st. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.10. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 21.0% on a year-over-year basis. On average, analysts predict that Devon Energy will post $3.73 earnings per share for the current fiscal year.

Devon Energy Corporation (NYSE: DVN) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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