Shares of Devon Energy Corporation (NYSE:DVN) have earned a consensus rating of “Buy” from the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.31.

DVN has been the topic of a number of analyst reports. Barclays PLC reissued an “overweight” rating and issued a $35.00 price target (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Thursday, August 3rd. BidaskClub raised Devon Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies dropped their price target on Devon Energy Corporation from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Royal Bank Of Canada set a $43.00 price target on Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Cowen and Company set a $37.00 target price on Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th.

Devon Energy Corporation (DVN) opened at 36.08 on Thursday. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The firm has a 50-day moving average of $34.01 and a 200-day moving average of $34.80. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 8.16 and a beta of 2.21.

Devon Energy Corporation (NYSE:DVN) last issued 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. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. Equities research analysts forecast that Devon Energy Corporation will post $1.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. Devon Energy Corporation’s dividend payout ratio is 5.47%.

In other news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the sale, the director now directly owns 11,338 shares in the company, valued at approximately $378,122.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Park National Corp OH lifted its holdings in Devon Energy Corporation by 0.8% in the 2nd quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock worth $217,000 after purchasing an additional 54 shares during the last quarter. Point View Wealth Management Inc. lifted its holdings in Devon Energy Corporation by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after purchasing an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in Devon Energy Corporation by 1.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after purchasing an additional 96 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Devon Energy Corporation by 1.1% in the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after purchasing an additional 99 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. lifted its holdings in Devon Energy Corporation by 1.0% in the 1st quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock worth $420,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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Devon Energy Corporation Company Profile

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).

Analyst Recommendations for Devon Energy Corporation (NYSE:DVN)

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