Devon Energy Corp. Now Covered by Analysts at Iberia Capital (DVN)
Stock analysts at Iberia Capital started coverage on shares of Devon Energy Corp. (NYSE:DVN) in a report issued on Tuesday, AnalystRatings.Net reports. The firm set a “sector perform” rating on the stock.
A number of other firms have also recently commented on DVN. Analysts at Robert W. Baird raised their price target on shares of Devon Energy Corp. from $69.00 to $72.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Devon Energy Corp. from $64.00 to $70.00 in a research note to investors on Wednesday, October 16th. They now have an “equal weight” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Devon Energy Corp. in a research note to investors on Monday, October 14th. They now have a $75.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. Devon Energy Corp. currently has a consensus rating of “Hold” and an average target price of $68.93.
Shares of Devon Energy Corp. (NYSE:DVN) opened at 65.32 on Tuesday. Devon Energy Corp. has a 52 week low of $50.81 and a 52 week high of $66.82. The stock’s 50-day moving average is $59.4 and its 200-day moving average is $56.90. The company’s market cap is $26.520 billion. Devon Energy Corp. also saw some unusual options trading on Monday. Stock traders acquired 18,832 call options on the stock. This represents an increase of 176% compared to the typical daily volume of 6,814 call options.
Devon Energy Corp. (NYSE:DVN) last announced its earnings results on Wednesday, August 7th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts expect that Devon Energy Corp. will post $4.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Wednesday, December 11th.
Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NYSE:DVN).
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