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

Shares of Devon Energy Co. (NYSE:DVN) have been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $48.58.

DVN has been the topic of a number of recent analyst reports. Citigroup lowered shares of Devon Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. Piper Sandler boosted their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Raymond James cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday.

Devon Energy Stock Performance

NYSE:DVN opened at $34.40 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.20 and a beta of 1.91. The firm’s fifty day simple moving average is $35.32 and its 200 day simple moving average is $37.49. Devon Energy has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. As a group, equities research analysts expect that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DVN. Hurley Capital LLC bought a new position in Devon Energy in the 4th quarter worth about $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy in the 4th quarter worth about $28,000. Capital Performance Advisors LLP bought a new position in Devon Energy in the 3rd quarter worth about $35,000. Cromwell Holdings LLC lifted its stake in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Devon Energy in the 4th quarter worth approximately $43,000. Institutional investors own 69.72% of the company’s stock.

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.