Devon Energy Corp EVP Frank W. Rudolph Sells 20,135 Shares (DVN)
Devon Energy Corp (NYSE:DVN) EVP Frank W. Rudolph unloaded 20,135 shares of the company’s stock on the open market in a transaction dated Monday, July 14th. The shares were sold at an average price of $77.08, for a total transaction of $1,552,005.80. Following the transaction, the executive vice president now directly owns 26,234 shares in the company, valued at approximately $2,022,117. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Devon Energy Corp from $87.00 to $89.00 in a research note on Thursday, July 10th. They now have a “sector outperform” rating on the stock. Separately, 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, July 7th. They now have an “average” rating on the stock. Finally, analysts at Wed upgraded shares of Devon Energy Corp to a “buy” rating in a research note on Monday, July 7th. They now have a $96.00 price target on the stock, up previously from $75.00. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.40.
Devon Energy Corp (NYSE:DVN) traded down 1.68% during mid-day trading on Tuesday, hitting $76.50. 3,398,131 shares of the company’s stock traded hands. Devon Energy Corp has a 1-year low of $54.08 and a 1-year high of $80.63. The stock’s 50-day moving average is $77.01 and its 200-day moving average is $68.19. The company has a market cap of $31.204 billion and a price-to-earnings ratio of 19.13.
Devon Energy Corp (NYSE:DVN) last announced its earnings results 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 $5.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders 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 1.25%. 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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