Devon Energy Corporation (NYSE:DVN) Receives Average Rating of “Moderate Buy” from Analysts

Devon Energy Corporation (NYSE:DVN) has been assigned a consensus rating of “Moderate Buy” from the twenty-nine brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.8571.

DVN has been the topic of several recent analyst reports. Roth Capital initiated coverage on Devon Energy in a research note on Monday, October 13th. They set a “buy” rating and a $42.00 target price on the stock. Morgan Stanley cut their price objective on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. William Blair initiated coverage on shares of Devon Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. 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 research note on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Devon Energy in a report on Monday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DVN. Aprio Wealth Management LLC lifted its position in Devon Energy by 4.1% in the third quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock worth $264,000 after buying an additional 297 shares during the last quarter. Accredited Wealth Management LLC increased its position in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Devon Energy by 2.6% during the third quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock worth $442,000 after buying an additional 318 shares during the period. SVB Wealth LLC boosted its position in Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after buying an additional 321 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

NYSE DVN opened at $37.69 on Friday. Devon Energy has a 52 week low of $25.89 and a 52 week high of $38.88. The firm has a market capitalization of $23.64 billion, a P/E ratio of 8.87, a PEG ratio of 2.90 and a beta of 0.62. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $34.37 and a 200-day moving average price of $33.79.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the company earned $1.10 EPS. Equities research analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

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.