Devon Energy Corp (NYSE:DVN) – Analysts at B. Riley issued their FY2017 EPS estimates for Devon Energy in a research note issued on Monday. B. Riley analyst R. Rashid anticipates that the energy company will post earnings per share of $1.61 for the year. B. Riley has a “Neutral” rating and a $50.00 price objective on the stock. B. Riley also issued estimates for Devon Energy’s Q4 2017 earnings at $0.40 EPS, Q1 2018 earnings at $0.72 EPS, Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.67 EPS, FY2018 earnings at $2.61 EPS, Q1 2019 earnings at $0.75 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.76 EPS, Q4 2019 earnings at $0.85 EPS and FY2019 earnings at $3.08 EPS.
Several other research analysts have also recently commented on DVN. KLR Group cut Devon Energy from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Tuesday, January 23rd. Zacks Investment Research raised Devon Energy from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research note on Friday, February 2nd. Stifel Nicolaus set a $68.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Capital One Financial cut Devon Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 10th. Finally, Barclays boosted their target price on Devon Energy from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. Devon Energy’s dividend payout ratio is currently 8.19%.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the transaction, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Sterneck Capital Management LLC boosted its position in shares of Devon Energy by 4.5% during the 2nd quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock worth $208,000 after acquiring an additional 283 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in shares of Devon Energy by 9.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 6,572 shares of the energy company’s stock valued at $214,000 after purchasing an additional 562 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Devon Energy by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 29,484 shares of the energy company’s stock valued at $1,059,000 after purchasing an additional 1,273 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Devon Energy by 8.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,658 shares of the energy company’s stock valued at $648,000 after purchasing an additional 1,329 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Devon Energy by 2.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 56,676 shares of the energy company’s stock valued at $2,346,000 after purchasing an additional 1,344 shares during the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.
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Devon Energy 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).
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