Devon Energy (NYSE:DVN) Stock Gets Price Target Trim from Mizuho

Devon Energy (NYSE:DVN) had its price objective cut by Mizuho from $68.00 to $65.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price target on Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Susquehanna increased their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. UBS Group raised their price objective on shares of Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Argus restated a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research report on Monday, August 17th. Finally, Stifel Nicolaus initiated coverage on shares of Devon Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $61.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Devon Energy Price Performance

Shares of NYSE DVN opened at $50.67 on Friday. The stock has a market cap of $55.74 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. Devon Energy has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a fifty day moving average of $48.06 and a 200-day moving average of $46.29.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The firm’s revenue for the quarter was up 73.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Equities research analysts anticipate that Devon Energy will post 5.39 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.5%. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Insider Activity

In other Devon Energy news, CEO Clay M. Gaspar bought 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the purchase, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares in the company, valued at approximately $3,705,084. The trade was a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is owned by insiders.

Institutional Trading of Devon Energy

A number of large investors have recently modified their holdings of DVN. Brown Lisle Cummings Inc. lifted its stake in Devon Energy by 14.0% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 6,871 shares of the energy company’s stock worth $316,000 after acquiring an additional 842 shares in the last quarter. Delta Capital Management LLC purchased a new position in Devon Energy during the 3rd quarter valued at about $206,000. Frank Rimerman Advisors LLC boosted its holdings in Devon Energy by 2.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 16,299 shares of the energy company’s stock valued at $750,000 after acquiring an additional 447 shares during the period. Vontobel Holding Ltd. grew its position in Devon Energy by 69.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 29,614 shares of the energy company’s stock valued at $1,363,000 after acquiring an additional 12,124 shares in the last quarter. Finally, Pension & Wealth Management Advisors Inc. increased its stake in Devon Energy by 29.5% during the third quarter. Pension & Wealth Management Advisors Inc. now owns 1,386 shares of the energy company’s stock worth $64,000 after purchasing an additional 316 shares during the period. Institutional investors own 69.72% of the company’s stock.

About Devon Energy

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.