Devon Energy (NYSE:DVN) Stock Price Up 3% - Should You Buy?

Devon Energy Co. (NYSE:DVN - Get Free Report) rose 3% on Monday . The company traded as high as $37.52 and last traded at $37.08. Approximately 4,292,497 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 10,158,681 shares. The stock had previously closed at $35.99.

Analyst Ratings Changes

DVN has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price target on the stock. UBS Group decreased their price target on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday. Mizuho decreased their target price 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. Finally, Raymond James lowered their target price on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.43.

Devon Energy Price Performance

The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.07 and a beta of 2.00. The company has a fifty day simple moving average of $35.58 and a two-hundred day simple moving average of $40.49. 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 - Get Free Report) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period last year, the company earned $1.65 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Devon Energy in the 3rd quarter worth about $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $39,000. True Wealth Design LLC boosted its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after buying an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% during 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 Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after purchasing an additional 480 shares during the last quarter. 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.