Devon Energy (NYSE:DVN) Stock Price Up 3% - What's Next?

Shares of Devon Energy Co. (NYSE:DVN - Get Free Report) shot up 3% during trading on Monday . The stock traded as high as $37.52 and last traded at $37.08. 4,292,497 shares changed hands during trading, a decline of 58% from the average session volume of 10,158,681 shares. The stock had previously closed at $35.99.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DVN shares. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. Citigroup cut their target price on Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Royal Bank of Canada restated a "sector perform" rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Barclays reduced their target price on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.27.

Devon Energy Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The business's 50-day moving average price is $35.54 and its 200 day moving average price is $40.42. The company has a market cap of $25.26 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.07 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. Devon Energy's quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. Devon Energy's payout ratio is 16.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Devon Energy during the 3rd quarter valued at $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy in the third quarter valued at approximately $39,000. True Wealth Design LLC grew its holdings 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 valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. increased its position 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 worth $49,000 after buying an additional 290 shares during the last quarter. Finally, Activest Wealth Management raised its stake 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 during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

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.

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