Shares of Devon Energy Corp (NYSE:DVN) have been given an average recommendation of “Hold” by the twenty-eight brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $45.44.
DVN has been the topic of several recent research reports. Morgan Stanley set a $33.00 price objective on shares of Devon Energy and gave the company a “hold” rating in a research report on Tuesday, January 29th. MKM Partners lifted their price objective on shares of Devon Energy from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Capital One Financial downgraded shares of Devon Energy from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Barclays downgraded shares of Devon Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $42.00 to $33.00 in a research report on Wednesday, January 16th.
NYSE DVN opened at $32.57 on Tuesday. Devon Energy has a one year low of $20.37 and a one year high of $46.54. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $14.67 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.47 and a beta of 2.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 13th. Devon Energy’s payout ratio is 24.81%.
In related news, Director Robert H. Henry purchased 11,651 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were bought at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the transaction, the director now owns 21,355 shares of the company’s stock, valued at $640,863.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in DVN. Winslow Evans & Crocker Inc. acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $26,000. Lindbrook Capital LLC acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. grew its stake in shares of Devon Energy by 40.5% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after purchasing an additional 461 shares during the last quarter. Lavaca Capital LLC grew its stake in shares of Devon Energy by 566.0% in the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Devon Energy by 2,129.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock worth $57,000 after purchasing an additional 1,217,716 shares during the last quarter. Institutional investors own 87.04% of the company’s stock.
About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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