Shares of Devon Energy Corporation (NYSE:DVN) have been assigned a consensus recommendation of “Buy” from the twenty-two analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $45.89.

A number of equities analysts recently weighed in on the stock. Cowen and Company set a $40.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 31st. Stephens raised shares of Devon Energy Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a report on Thursday. Stifel Nicolaus set a $66.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets set a $45.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Jefferies Group LLC raised shares of Devon Energy Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, October 9th.

Institutional investors have recently made changes to their positions in the company. Grandfield & Dodd LLC increased its position in shares of Devon Energy Corporation by 40.7% in the third quarter. Grandfield & Dodd LLC now owns 102,841 shares of the energy company’s stock worth $3,775,000 after purchasing an additional 29,770 shares during the last quarter. FDx Advisors Inc. increased its position in shares of Devon Energy Corporation by 17.3% in the third quarter. FDx Advisors Inc. now owns 23,513 shares of the energy company’s stock worth $863,000 after purchasing an additional 3,468 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Devon Energy Corporation in the third quarter worth approximately $537,000. Jennison Associates LLC increased its position in shares of Devon Energy Corporation by 1.4% in the third quarter. Jennison Associates LLC now owns 893,093 shares of the energy company’s stock worth $32,785,000 after purchasing an additional 12,517 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Devon Energy Corporation by 37.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 346,688 shares of the energy company’s stock worth $12,727,000 after purchasing an additional 94,671 shares during the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

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Devon Energy Corporation (NYSE DVN) opened at $39.27 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market cap of $20,616.75, a PE ratio of 26.90, a P/E/G ratio of 1.25 and a beta of 2.22. Devon Energy Corporation has a fifty-two week low of $28.79 and a fifty-two week high of $50.69.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Devon Energy Corporation had a net margin of 11.62% and a return on equity of 6.88%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. analysts predict that Devon Energy Corporation will post 1.73 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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s payout ratio is 8.19%.

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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