Devon Energy (NYSE:DVN) Price Target Lowered to $47.00 at Mizuho

Devon Energy (NYSE:DVN) had its target price reduced by Mizuho from $51.00 to $47.00 in a report published on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the energy company’s stock.

A number of other research analysts have also issued reports on the company. Truist Financial lowered Devon Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $49.00 to $43.00 in a report on Thursday, November 7th. BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. UBS Group reduced their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.55.

Devon Energy Stock Down 3.9 %

Shares of NYSE DVN opened at $32.58 on Monday. Devon Energy has a 12 month low of $32.56 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $38.54 and a two-hundred day simple moving average of $42.43. The firm has a market capitalization of $21.40 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. Equities analysts expect that Devon Energy will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.70%. Devon Energy’s payout ratio is 16.33%.

Institutional Trading of Devon Energy

Institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the second quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the third quarter valued at approximately $35,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares during the period. Future Financial Wealth Managment LLC bought a new position in Devon Energy during the third quarter valued at about $39,000. Finally, True Wealth Design LLC lifted its stake in Devon Energy by 3,889.3% in 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 last quarter. Institutional investors 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.