Devon Energy Co. (NYSE:DVN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-one research firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.79.
DVN has been the subject of several analyst reports. StockNews.com lowered shares of Devon Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday. They issued a "hold" rating and a $45.00 price target on the stock. Evercore ISI decreased their price target on Devon Energy from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Monday, September 30th. Susquehanna dropped their price target on Devon Energy from $65.00 to $63.00 and set a "positive" rating on the stock in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their target price on shares of Devon Energy from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st.
View Our Latest Stock Analysis on DVN
Shares of NYSE DVN opened at $42.42 on Friday. Devon Energy has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $42.66 and a two-hundred day simple moving average of $46.83. The firm has a market cap of $26.81 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02.
Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Analysts expect that Devon Energy will post 5.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. Devon Energy's payout ratio is presently 16.79%.
Several institutional investors and hedge funds have recently made changes to their positions in DVN. Vanguard Group Inc. boosted its position in shares of Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. grew its position in Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company's stock worth $469,901,000 after acquiring an additional 1,428,776 shares during the period. Raymond James & Associates increased its stake in Devon Energy by 1.5% during the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company's stock worth $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company's stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Devon Energy by 15.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company's stock worth $241,456,000 after purchasing an additional 699,743 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.
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.
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