Devon Energy Co. (NYSE:DVN) Given Consensus Rating of “Moderate Buy” by Brokerages

Devon Energy Co. (NYSE:DVN) has earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.63.

A number of equities analysts have recently issued reports on DVN shares. Truist Financial dropped their price objective on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, BMO Capital Markets upgraded shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd.

Institutional Trading of Devon Energy

Several large investors have recently made changes to their positions in the business. Triad Wealth Partners LLC acquired a new position in Devon Energy during the second quarter valued at $27,000. Manchester Capital Management LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the first quarter worth about $30,000. Jones Financial Companies Lllp grew its holdings in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the second quarter valued at approximately $34,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.1 %

Shares of NYSE DVN opened at $40.47 on Wednesday. Devon Energy has a twelve month low of $39.02 and a twelve month high of $55.09. The firm has a market cap of $25.58 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03. The business has a fifty day simple moving average of $44.50 and a two-hundred day simple moving average of $47.42. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts expect that Devon Energy will post 5.36 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.17%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.