Devon Energy (NYSE:DVN) Trading Up 2.1% - What's Next?

Devon Energy Co. (NYSE:DVN - Get Free Report) shot up 2.1% during mid-day trading on Monday . The stock traded as high as $31.87 and last traded at $31.87. 3,405,472 shares were traded during mid-day trading, a decline of 56% from the average session volume of 7,779,250 shares. The stock had previously closed at $31.20.

Analyst Ratings Changes

Several research analysts recently commented on DVN shares. Citigroup lowered their target price on Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Morgan Stanley decreased their price target on shares of Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Benchmark restated a "hold" rating on shares of Devon Energy in a report on Tuesday, October 15th. Scotiabank dropped their target price on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler decreased their price target on Devon Energy from $57.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $50.05.

Devon Energy Stock Up 2.5 %

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 capitalization of $21.00 billion, a PE ratio of 5.93, a PEG ratio of 1.10 and a beta of 1.99. The firm's fifty day moving average is $36.64 and its 200-day moving average is $41.42.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. On average, equities research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.75%. Devon Energy's dividend payout ratio is presently 16.33%.

Institutional Trading of Devon Energy

A number of institutional investors have recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter worth approximately $35,000. Future Financial Wealth Managment LLC acquired a new position in Devon Energy during the third quarter worth $39,000. True Wealth Design LLC boosted its position in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management increased its position in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

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.