Piper Jaffray Companies reissued their hold rating on shares of Devon Energy (NYSE:DVN) in a research report report published on Tuesday morning. The brokerage currently has a $42.00 target price on the energy company’s stock.
Several other equities research analysts also recently commented on DVN. Cowen reaffirmed a buy rating and issued a $40.00 target price on shares of Devon Energy in a research note on Thursday, September 28th. BMO Capital Markets set a $45.00 target price on shares of Devon Energy and gave the company a buy rating in a research note on Tuesday, October 10th. Barclays upped their target price on shares of Devon Energy from $35.00 to $38.00 and gave the company an overweight rating in a research note on Monday, November 20th. Royal Bank of Canada set a $47.00 price objective on shares of Devon Energy and gave the stock a buy rating in a research report on Wednesday, December 20th. Finally, Jefferies Group set a $46.00 price objective on shares of Devon Energy and gave the stock a buy rating in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $45.82.
Shares of Devon Energy (NYSE DVN) traded up $0.97 during trading hours on Tuesday, reaching $44.04. 7,670,000 shares of the company’s stock traded hands, compared to its average volume of 4,630,000. Devon Energy has a 1 year low of $28.79 and a 1 year high of $47.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $23,140.00, a P/E ratio of 14.98, a PEG ratio of 2.56 and a beta of 2.21.
Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. equities analysts forecast that Devon Energy will post 1.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio is 8.16%.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the transaction, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in DVN. Sun Life Financial INC boosted its holdings in Devon Energy by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,847 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Devon Energy during the third quarter worth $134,000. Fiduciary Trust Co. acquired a new position in Devon Energy during the second quarter worth $144,000. Sawyer & Company Inc acquired a new position in Devon Energy during the fourth quarter worth $151,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in Devon Energy by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.
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Devon Energy Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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