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

Shares of Devon Energy Corporation (NYSE:DVN) have been assigned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twenty-one have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $44.8621.

Several analysts have weighed in on the company. BMO Capital Markets lowered their target price on Devon Energy from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Susquehanna boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Siebert Williams Shank lowered their price objective on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Finally, Evercore ISI upped their price target on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th.

Devon Energy Trading Up 1.4%

Shares of DVN opened at $36.16 on Tuesday. Devon Energy has a twelve month low of $25.89 and a twelve month high of $38.88. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $22.68 billion, a P/E ratio of 8.51, a PEG ratio of 2.71 and a beta of 0.62. The firm’s 50-day moving average is $35.27 and its two-hundred day moving average is $34.38.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is presently 22.59%.

Hedge Funds Weigh In On Devon Energy

A number of institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new stake in Devon Energy during the 2nd quarter worth about $25,000. Caldwell Trust Co purchased a new position in Devon Energy in the 2nd quarter valued at about $25,000. PFS Partners LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $25,000. First Horizon Corp purchased a new stake in shares of Devon Energy during the third quarter worth about $26,000. Finally, Accredited Wealth Management LLC raised its position in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 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 (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.