Devon Energy (NYSE:DVN) Shares Down 1.2% – Should You Sell?

Devon Energy Co. (NYSE:DVN)’s share price fell 1.2% during mid-day trading on Monday . The stock traded as low as $37.72 and last traded at $37.98. 9,342,292 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 10,750,120 shares. The stock had previously closed at $38.42.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DVN shares. Evercore ISI dropped their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research note on Thursday, December 5th. Finally, Jefferies Financial Group initiated coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

Devon Energy Trading Down 3.2 %

The company has a 50 day moving average of $35.43 and a 200 day moving average of $40.07. The firm has a market cap of $24.13 billion, a P/E ratio of 6.81, a PEG ratio of 1.26 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $1.65 earnings per share. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EnCap Energy Capital Fund XI L.P. bought a new stake in Devon Energy during the third quarter valued at about $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy during the 3rd quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $230,928,000. International Assets Investment Management LLC increased its position in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Company Profile

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.