Devon Energy Co. (NYSE:DVN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Devon Energy Co. (NYSE:DVN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-two research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $44.83.

Several equities research analysts have recently issued reports on the stock. Raymond James set a $40.00 price target on shares of Devon Energy in a research note on Monday. Cowen downgraded Devon Energy to a "hold" rating and decreased their target price for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Williams Trading set a $50.00 price target on Devon Energy in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price target on Devon Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Citigroup lowered their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th.

Institutional Investors Weigh In On Devon Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hurley Capital LLC bought a new position in shares of Devon Energy in the 4th quarter worth $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy in the fourth quarter valued at $28,000. Rakuten Securities Inc. raised its position in Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Cromwell Holdings LLC raised its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in Devon Energy during the fourth quarter worth about $43,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.4 %

DVN stock opened at $31.08 on Thursday. The stock has a market cap of $20.17 billion, a P/E ratio of 6.82, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock's fifty day simple moving average is $33.70 and its two-hundred day simple moving average is $35.60. Devon Energy has a 1-year low of $25.89 and a 1-year high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Analysts expect that Devon Energy will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is 21.05%.

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.

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