Devon Energy (NYSE:DVN) Price Target Cut to $46.00 by Analysts at Raymond James

Devon Energy (NYSE:DVN) had its price target lowered by Raymond James from $54.00 to $46.00 in a research report released on Monday,Benzinga reports. The firm currently has an outperform rating on the energy company’s stock.

DVN has been the subject of a number of other reports. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Susquehanna lifted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Devon Energy Trading Down 1.5 %

NYSE DVN opened at $34.18 on Monday. The stock has a market capitalization of $22.18 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.20 and a beta of 1.91. The business has a 50 day simple moving average of $35.29 and a 200 day simple moving average of $37.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Research analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.81%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Institutional Investors Weigh In On Devon Energy

A number of large investors have recently added to or reduced their stakes in the business. Hurley Capital LLC purchased a new position in shares of Devon Energy during the 4th quarter worth $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy in the 4th quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in Devon Energy in the third quarter valued at about $35,000. Cromwell Holdings LLC grew its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Devon Energy in the 4th quarter worth about $43,000. 69.72% of the stock is owned by institutional investors and hedge funds.

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.