Devon Energy (NYSE:DVN) Trading Up 0.2% – Should You Buy?

Devon Energy Co. (NYSE:DVN)’s stock price rose 0.2% during mid-day trading on Tuesday . The company traded as high as $31.17 and last traded at $31.03. Approximately 2,288,911 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,773,322 shares. The stock had previously closed at $30.98.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Raymond James decreased their target price on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research note on Thursday, December 5th. TD Cowen cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group decreased their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.05.

Devon Energy Price Performance

The business’s fifty day moving average is $37.02 and its 200 day moving average is $41.68. The firm has a market capitalization of $20.52 billion, a P/E ratio of 5.80, a P/E/G ratio of 1.10 and a beta of 1.99. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.82%. Devon Energy’s payout ratio is currently 16.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DVN. HB Wealth Management LLC boosted its position in shares of Devon Energy by 2.1% during the second quarter. HB Wealth Management LLC now owns 19,892 shares of the energy company’s stock worth $943,000 after purchasing an additional 418 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Devon Energy by 21.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 27,823 shares of the energy company’s stock valued at $1,319,000 after acquiring an additional 4,848 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of Devon Energy by 149.0% during the 2nd quarter. iA Global Asset Management Inc. now owns 79,260 shares of the energy company’s stock worth $3,757,000 after buying an additional 47,431 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Devon Energy in the second quarter valued at approximately $1,867,000. Finally, Concurrent Investment Advisors LLC boosted its stake in Devon Energy by 88.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 75,379 shares of the energy company’s stock valued at $3,573,000 after purchasing an additional 35,454 shares during the period. 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.