Devon Energy Corp. (NYSE:DVN)’s share price dropped 1.7% on Thursday . The stock traded as low as $38.30 and last traded at $38.35, with a volume of 4,017,737 shares trading hands. The stock had previously closed at $39.00.

DVN has been the subject of several research analyst reports. Johnson Rice raised Devon Energy Corp. from a “hold” rating to an “accumulate” rating in a research note on Thursday, May 19th. Citigroup Inc. raised their price objective on Devon Energy Corp. from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Vetr downgraded Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $29.42 price objective for the company. in a research note on Thursday, March 31st. Deutsche Bank AG dropped their price objective on Devon Energy Corp. from $48.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. Finally, Evercore ISI raised Devon Energy Corp. from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $40.00 in a research note on Friday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.94.

The company’s 50-day moving average is $36.80 and its 200-day moving average is $29.87. The company’s market capitalization is $20.12 billion.

Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 3rd. The energy company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.11. The company earned $2.13 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the business earned $0.22 EPS. The business’s revenue for the quarter was down 34.9% on a year-over-year basis. On average, equities research analysts predict that Devon Energy Corp. will post ($0.83) EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%.

In other Devon Energy Corp. news, Director Robert H. Henry sold 7,100 shares of the firm’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $37.43, for a total value of $265,753.00. Following the transaction, the director now directly owns 9,748 shares of the company’s stock, valued at $364,867.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

A number of institutional investors have made changes to their positions in DVN. Mutual of America Capital Management LLC boosted its position in shares of Devon Energy Corp. by 0.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 43,317 shares of the energy company’s stock worth $1,386,000 after buying an additional 390 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Devon Energy Corp. by 2.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 114,968 shares of the energy company’s stock worth $3,679,000 after buying an additional 3,130 shares during the last quarter. Reaves W H & Co. Inc. boosted its position in shares of Devon Energy Corp. by 33.7% in the fourth quarter. Reaves W H & Co. Inc. now owns 237,850 shares of the energy company’s stock worth $7,611,000 after buying an additional 59,900 shares during the last quarter. Brave Asset Management Inc boosted its position in shares of Devon Energy Corp. by 6.6% in the fourth quarter. Brave Asset Management Inc now owns 33,712 shares of the energy company’s stock worth $1,079,000 after buying an additional 2,100 shares during the last quarter. Finally, BOKF NA boosted its position in shares of Devon Energy Corp. by 88.1% in the fourth quarter. BOKF NA now owns 93,089 shares of the energy company’s stock worth $2,979,000 after buying an additional 43,591 shares during the last quarter.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.

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