Several other research analysts have also issued reports on the company. Stifel Nicolaus initiated coverage on Devon Energy Corporation in a research report on Wednesday, April 12th. They set a buy rating and a $73.00 target price for the company. They noted that the move was a valuation call. TheStreet upgraded Devon Energy Corporation from a d+ rating to a c rating in a research report on Tuesday, May 2nd. Scotiabank set a $54.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Monday, March 27th. Credit Suisse Group boosted their target price on Devon Energy Corporation from $63.00 to $64.00 and gave the company an outperform rating in a research report on Thursday, May 4th. Finally, KLR Group upgraded Devon Energy Corporation from an accumulate rating to a buy rating and set a $53.00 target price for the company in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $51.95.
Shares of Devon Energy Corporation (NYSE:DVN) opened at 31.76 on Thursday. Devon Energy Corporation has a 1-year low of $31.25 and a 1-year high of $50.69. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 53.92 and a beta of 2.10. The stock has a 50 day moving average price of $35.86 and a 200-day moving average price of $42.05.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Devon Energy Corporation had a return on equity of 4.25% and a net margin of 2.34%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $2.98 billion. Equities research analysts forecast that Devon Energy Corporation will post $1.89 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio is currently 43.64%.
In other Devon Energy Corporation news, Director Robert A. Mosbacher, Jr. sold 800 shares of Devon Energy Corporation stock in a transaction on Friday, April 21st. The shares were sold at an average price of $39.18, for a total value of $31,344.00. Following the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at $913,207.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in DVN. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Devon Energy Corporation by 3.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,542,489 shares of the energy company’s stock worth $68,039,000 after buying an additional 57,741 shares during the period. Lincluden Management Ltd. raised its stake in shares of Devon Energy Corporation by 14.3% in the fourth quarter. Lincluden Management Ltd. now owns 248,407 shares of the energy company’s stock worth $11,345,000 after buying an additional 31,017 shares during the period. HGK Asset Management Inc. raised its stake in shares of Devon Energy Corporation by 7.0% in the first quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock worth $13,332,000 after buying an additional 20,970 shares during the period. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of Devon Energy Corporation during the third quarter worth $26,819,000. Finally, Speece Thorson Capital Group Inc. raised its stake in shares of Devon Energy Corporation by 3.0% in the first quarter. Speece Thorson Capital Group Inc. now owns 108,888 shares of the energy company’s stock worth $4,543,000 after buying an additional 3,139 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.
About Devon Energy Corporation
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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