Devon Energy Corp. (NYSE:DVN)’s share price shot up 6.2% during trading on Tuesday . The stock traded as high as $40.26 and last traded at $40.01, with a volume of 4,930,155 shares. The stock had previously closed at $37.67.

Several research firms have recently commented on DVN. Vetr upgraded shares of Devon Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Thursday, May 5th. Citigroup Inc. upped their price target on shares of Devon Energy Corp. from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Barclays PLC upped their price target on shares of Devon Energy Corp. from $26.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Devon Energy Corp. from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 4th. Finally, Wunderlich upped their price target on shares of Devon Energy Corp. from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, June 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.77.

The company’s market capitalization is $20.44 billion. The stock has a 50 day moving average price of $36.74 and a 200-day moving average price of $29.81.

Devon Energy Corp. (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 3rd. The energy company reported ($0.53) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.11. The firm earned $2.13 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. Devon Energy Corp.’s revenue for the quarter was down 34.9% compared to the same quarter last year. On average, equities research analysts anticipate that Devon Energy Corp. will post ($0.83) EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.06 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%.

In related news, Director Robert H. Henry sold 7,100 shares of Devon Energy Corp. stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $37.43, for a total value of $265,753.00. Following the completion of the sale, the director now directly owns 9,748 shares in the company, valued at $364,867.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Other hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Devon Energy Corp. by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 23,548,335 shares of the energy company’s stock worth $753,548,000 after buying an additional 954,458 shares during the last quarter. Morgan Stanley raised its stake in shares of Devon Energy Corp. by 1.3% in the fourth quarter. Morgan Stanley now owns 1,727,868 shares of the energy company’s stock worth $55,294,000 after buying an additional 21,652 shares during the last quarter. South Dakota Investment Council raised its stake in shares of Devon Energy Corp. by 50.7% in the fourth quarter. South Dakota Investment Council now owns 1,548,834 shares of the energy company’s stock worth $49,563,000 after buying an additional 521,150 shares during the last quarter. Mitchell Group Inc. raised its stake in shares of Devon Energy Corp. by 8.8% in the fourth quarter. Mitchell Group Inc. now owns 1,144,352 shares of the energy company’s stock worth $36,619,000 after buying an additional 92,813 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Devon Energy Corp. by 63.5% in the fourth quarter. Systematic Financial Management LP now owns 955,291 shares of the energy company’s stock worth $30,569,000 after buying an additional 371,039 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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