Devon Energy (DVN) Receiving Somewhat Favorable Press Coverage, Study Finds

Media headlines about Devon Energy (NYSE:DVN) have been trending somewhat positive recently, Accern reports. The research group identifies negative and positive news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Devon Energy earned a coverage optimism score of 0.17 on Accern’s scale. Accern also assigned headlines about the energy company an impact score of 46.8633469525991 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

Devon Energy (NYSE:DVN) traded up $0.97 during mid-day trading on Friday, reaching $44.04. 7,671,384 shares of the company’s stock were exchanged, compared to its average volume of 4,700,000. Devon Energy has a 12 month low of $28.79 and a 12 month high of $47.82. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The stock has a market cap of $23,140.00, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.62 and a beta of 2.21.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. analysts expect that Devon Energy will post 1.79 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.54%. Devon Energy’s payout ratio is 8.16%.

DVN has been the subject of a number of recent analyst reports. Cowen set a $40.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, October 31st. BMO Capital Markets set a $45.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, October 9th. Stifel Nicolaus set a $66.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $45.82.

In other news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total transaction of $490,035.42. Following the transaction, the executive vice president now owns 67,900 shares in the company, valued at approximately $2,599,891. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

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Devon Energy Company Profile

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).

Insider Buying and Selling by Quarter for Devon Energy (NYSE:DVN)

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