Short Interest in Devon Energy Co. (NYSE:DVN) Decreases By 18.8%

Devon Energy Co. (NYSE:DVN - Get Free Report) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 17,920,000 shares, a decline of 18.8% from the February 13th total of 22,080,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average trading volume of 10,730,000 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Susquehanna boosted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, February 20th. Benchmark restated a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Finally, Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.46.

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Devon Energy Trading Up 0.1 %

Devon Energy stock traded up $0.05 during trading hours on Friday, hitting $36.18. The company had a trading volume of 12,727,559 shares, compared to its average volume of 7,842,045. The firm has a market cap of $23.48 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a 50-day moving average price of $35.46 and a two-hundred day moving average price of $37.06.

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

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 21.05%.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Hurley Capital LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at about $26,000. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at about $28,000. Cromwell Holdings LLC raised its holdings in shares of Devon Energy by 98.0% in the 4th 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. Sierra Ocean LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at about $43,000. Finally, True Wealth Design LLC raised its holdings in shares of Devon Energy by 3,889.3% in the 3rd 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 in 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.