Devon Energy (NYSE:DVN) Research Coverage Started at Roth Capital

Roth Capital initiated coverage on shares of Devon Energy (NYSE:DVN) in a report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $42.00 price target on the energy company’s stock.

DVN has been the subject of several other research reports. Raymond James Financial restated an “outperform” rating and issued a $45.00 target price (up previously from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. William Blair initiated coverage on shares of Devon Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. BMO Capital Markets upped their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the company a “sector perform” rating in a report on Friday, October 10th. Finally, Barclays reduced their price target on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.68.

Devon Energy Trading Down 0.4%

NYSE DVN opened at $32.57 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy has a 52 week low of $25.89 and a 52 week high of $41.61. The stock has a market capitalization of $20.68 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The firm has a 50 day moving average of $34.56 and a two-hundred day moving average of $33.02.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio is 21.52%.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Devon Energy

A number of large investors have recently added to or reduced their stakes in the business. CWM LLC grew its stake in Devon Energy by 70.0% in the 3rd quarter. CWM LLC now owns 336,861 shares of the energy company’s stock valued at $11,810,000 after acquiring an additional 138,717 shares during the last quarter. Independent Wealth Network Inc. grew its stake in Devon Energy by 14.0% in the 3rd quarter. Independent Wealth Network Inc. now owns 8,768 shares of the energy company’s stock valued at $307,000 after acquiring an additional 1,075 shares during the last quarter. World Investment Advisors grew its stake in Devon Energy by 11.6% in the 3rd quarter. World Investment Advisors now owns 30,411 shares of the energy company’s stock valued at $1,066,000 after acquiring an additional 3,158 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Devon Energy by 147.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 18,367 shares of the energy company’s stock valued at $644,000 after acquiring an additional 10,940 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in Devon Energy by 7.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 126,828 shares of the energy company’s stock valued at $4,691,000 after acquiring an additional 8,553 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

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.