Devon Energy Co. (NYSE:DVN - Get Free Report) was down 2.2% during trading on Friday . The company traded as low as $33.79 and last traded at $34.28. Approximately 1,953,355 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 9,454,141 shares. The stock had previously closed at $35.05.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on DVN shares. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Benchmark upgraded shares of Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets reduced their target price on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.45.
Get Our Latest Stock Analysis on Devon Energy
Devon Energy Price Performance
The company's fifty day moving average is $35.00 and its 200 day moving average is $39.64. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market cap of $22.44 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 1.10 and a beta of 2.00.
Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $1.65 earnings per share. Devon Energy's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.
Devon Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is 16.33%.
Institutional Trading of Devon Energy
Several large investors have recently bought and sold shares of the company. Riversedge Advisors LLC grew its position in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company's stock valued at $287,000 after acquiring an additional 253 shares in the last quarter. Modus Advisors LLC grew its position in Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company's stock valued at $447,000 after acquiring an additional 272 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after buying an additional 290 shares in the last quarter. Sfmg LLC grew its position in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock worth $2,538,000 after buying an additional 294 shares in the last quarter. Finally, Redwood Wealth Management Group LLC grew its position in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.
Devon Energy Company Profile
(
Get Free Report)
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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