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

Shares of Devon Energy Co. (NYSE:DVN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.71.

A number of equities analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Cowen downgraded Devon Energy to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Mizuho reduced their price target on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th.

Institutional Trading of Devon Energy

A number of large investors have recently added to or reduced their stakes in DVN. Vanguard Group Inc. increased its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Devon Energy during the 4th quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. grew its holdings in Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP raised its position in Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock worth $175,810,000 after purchasing an additional 3,090,585 shares during the period. Finally, Invesco Ltd. lifted its stake in Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $34.31 on Friday. The firm has a market cap of $22.03 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock’s fifty day moving average price is $31.22 and its two-hundred day moving average price is $33.67. Devon Energy has a one year low of $25.89 and a one year high of $49.35.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. As a group, research analysts expect that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) is currently 21.87%.

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.