Devon Energy Co. (NYSE:DVN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Devon Energy Co. (NYSE:DVN) have been given a consensus recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.87.

Several research analysts recently weighed in on DVN shares. Susquehanna boosted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Barclays boosted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Wells Fargo & Company decreased their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd.

Devon Energy Stock Down 0.5 %

Shares of DVN opened at $34.23 on Wednesday. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 7.51, a P/E/G ratio of 1.20 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a 50-day moving average price of $35.07 and a two-hundred day moving average price of $37.85.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts predict that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is presently 21.05%.

Institutional Trading of Devon Energy

Several large investors have recently made changes to their positions in DVN. US Bancorp DE boosted its position in shares of Devon Energy by 1.6% during the 3rd quarter. US Bancorp DE now owns 127,840 shares of the energy company’s stock worth $5,001,000 after acquiring an additional 2,026 shares in the last quarter. Stephens Inc. AR lifted its stake in Devon Energy by 4.3% in the 3rd quarter. Stephens Inc. AR now owns 22,095 shares of the energy company’s stock valued at $864,000 after purchasing an additional 905 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Devon Energy by 12.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,346 shares of the energy company’s stock valued at $290,000 after purchasing an additional 789 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Devon Energy by 7.1% during the third quarter. Clear Creek Financial Management LLC now owns 6,193 shares of the energy company’s stock valued at $242,000 after acquiring an additional 409 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Devon Energy by 419.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,018,139 shares of the energy company’s stock valued at $39,830,000 after acquiring an additional 822,096 shares during the last quarter. Institutional investors and hedge funds 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.