Devon Energy Corporation (DVN) Receives Average Recommendation of “Buy” from Brokerages
Devon Energy Corporation (NYSE:DVN) has been given a consensus recommendation of “Buy” by the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $44.83.
Several analysts have recently weighed in on DVN shares. Stifel Nicolaus reissued a “buy” rating and set a $67.00 price objective on shares of Devon Energy Corporation in a report on Sunday, September 3rd. Jefferies Group LLC reissued a “hold” rating and set a $31.00 price objective (down previously from $35.00) on shares of Devon Energy Corporation in a report on Tuesday, August 29th. BMO Capital Markets set a $38.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a report on Monday, August 28th. Royal Bank Of Canada set a $43.00 price objective on Devon Energy Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Cowen and Company reissued a “buy” rating and set a $37.00 price objective on shares of Devon Energy Corporation in a report on Tuesday, August 22nd.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in Devon Energy Corporation by 14.9% during the 1st quarter. LS Investment Advisors LLC now owns 15,906 shares of the energy company’s stock worth $664,000 after purchasing an additional 2,061 shares during the last quarter. Swiss National Bank raised its position in Devon Energy Corporation by 27.2% during the 1st quarter. Swiss National Bank now owns 1,669,726 shares of the energy company’s stock worth $69,661,000 after purchasing an additional 357,200 shares during the last quarter. World Asset Management Inc raised its position in Devon Energy Corporation by 10.7% during the 1st quarter. World Asset Management Inc now owns 57,884 shares of the energy company’s stock worth $2,415,000 after purchasing an additional 5,593 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Devon Energy Corporation by 1.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,402,944 shares of the energy company’s stock worth $58,531,000 after purchasing an additional 22,351 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in Devon Energy Corporation by 1.1% during the 1st quarter. Gabelli Funds LLC now owns 468,500 shares of the energy company’s stock worth $19,546,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors own 77.00% of the company’s stock.
Devon Energy Corporation (DVN) opened at 33.65 on Friday. The company has a 50-day moving average of $31.89 and a 200 day moving average of $35.54. The firm has a market cap of $17.69 billion, a P/E ratio of 7.61 and a beta of 2.18. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69.
Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business earned $0.06 EPS. The business’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities analysts predict that Devon Energy Corporation will post $1.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is currently 5.47%.
About Devon Energy Corporation
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
Receive News & Ratings for Devon Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.