Shares of Devon Energy Corp. (NYSE:DVN) fell 1.7% during mid-day trading on Thursday . The stock traded as low as $38.30 and last traded at $38.35, with a volume of 4,017,737 shares changing hands. The stock had previously closed at $39.00.

A number of analysts have recently weighed in on the company. Barclays PLC raised their price objective on Devon Energy Corp. from $38.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday. Scotiabank reissued a “focus stock” rating and issued a $61.00 price objective (up previously from $50.00) on shares of Devon Energy Corp. in a research report on Monday, July 11th. Howard Weil raised Devon Energy Corp. from a “sector outperform” rating to a “focus stock” rating and raised their price objective for the stock from $50.00 to $61.00 in a research report on Monday, July 11th. Simmons reissued a “neutral” rating and issued a $41.00 price objective (up previously from $39.00) on shares of Devon Energy Corp. in a research report on Thursday, July 7th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $41.00 price objective (up previously from $39.00) on shares of Devon Energy Corp. in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $39.94.

The stock’s market cap is $20.06 billion. The stock’s 50 day moving average price is $36.87 and its 200 day moving average price is $29.92.

Devon Energy Corp. (NYSE:DVN) last issued its earnings results on Tuesday, May 3rd. The energy company reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.11. The company earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 34.9% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Corp. will post ($0.77) EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued 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 stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $37.43, for a total value of $265,753.00. Following the completion of 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 filing with the SEC, which is available at this link.

Other hedge funds and institutional investors recently modified their holdings of the company. 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 period. 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 period. 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 period. 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 period. 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 period.

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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