Short Interest in Devon Energy Corp Decreases By 34.1% (DVN)
Shares of Devon Energy Corp (NYSE:DVN) saw a large decrease in short interest during the month of June. As of June 13th, there was short interest totalling 6,499,517 shares, a decrease of 34.1% from the May 30th total of 9,860,562 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 3,022,962 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.7% of the company’s shares are short sold.
A number of research firms have recently commented on DVN. Analysts at ISI Group raised their price target on shares of Devon Energy Corp from $0.10 to $0.48 in a research note on Monday. They now have an “average” rating on the stock. Separately, analysts at Wed upgraded shares of Devon Energy Corp to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $75.00. Finally, analysts at Citigroup Inc. upgraded shares of Devon Energy Corp from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $21.00. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.31.
Shares of Devon Energy Corp (NYSE:DVN) opened at 78.28 on Tuesday. Devon Energy Corp has a 1-year low of $54.08 and a 1-year high of $80.63. The stock has a 50-day moving average of $76.20 and a 200-day moving average of $67.50. The company has a market cap of $31.930 billion and a P/E ratio of 19.47.
Devon Energy Corp (NYSE:DVN) last released its earnings data on Wednesday, May 7th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by $0.12. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 89.0% on a year-over-year basis. On average, analysts predict that Devon Energy Corp will post $5.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, September 10th.
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 (NGLs).
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