Brokerages Set Devon Energy Co. (NYSE:DVN) PT at $49.43

Shares of Devon Energy Co. (NYSE:DVN) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $49.27.

Several research firms have recently commented on DVN. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler cut their price target on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd.

Institutional Investors Weigh In On Devon Energy

Large investors have recently made changes to their positions in the stock. William B. Walkup & Associates Inc. acquired a new position in Devon Energy in the 2nd quarter worth $1,026,000. Legacy Investment Solutions LLC acquired a new position in shares of Devon Energy during the third quarter worth about $8,002,000. Bridgewater Associates LP bought a new position in shares of Devon Energy during the third quarter worth about $9,426,000. Petrus Trust Company LTA raised its position in Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after buying an additional 17,415 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after acquiring an additional 6,358 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.0 %

Shares of DVN opened at $38.42 on Tuesday. The stock has a fifty day moving average price of $35.50 and a two-hundred day moving average price of $40.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 1.14 and a beta of 2.00. Devon Energy has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts predict that Devon Energy will post 4.72 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

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.