Devon Energy Co. (NYSE:DVN) Receives Average Rating of “Moderate Buy” from Analysts

Devon Energy Co. (NYSE:DVN) has received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $57.63.

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Susquehanna lowered their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVN. Creekmur Asset Management LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $791,000. Wahed Invest LLC lifted its position in shares of Devon Energy by 6.3% during the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock worth $496,000 after purchasing an additional 648 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy during the first quarter valued at $30,000. MCF Advisors LLC boosted its stake in shares of Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after purchasing an additional 215 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Devon Energy in the fourth quarter worth about $702,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.1 %

Devon Energy stock opened at $40.47 on Wednesday. Devon Energy has a 12-month low of $39.02 and a 12-month high of $55.09. The firm has a market capitalization of $25.58 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.13 and a beta of 2.03. The firm has a 50 day moving average of $44.50 and a 200 day moving average of $47.42. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Devon Energy will post 5.36 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. Devon Energy’s dividend payout ratio is presently 16.79%.

About Devon Energy

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.