Devon Energy Corp. (DVN) Stock Price Down 5.4%
Devon Energy Corp. (NYSE:DVN)’s share price traded down 5.4% during mid-day trading on Monday . The company traded as low as $36.21 and last traded at $36.23, with a volume of 4,077,018 shares. The stock had previously closed at $38.28.
A number of equities analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Devon Energy Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. reissued a “neutral” rating and set a $41.00 price target (up previously from $39.00) on shares of Devon Energy Corp. in a report on Thursday, July 7th. Citigroup Inc. reissued a “buy” rating on shares of Devon Energy Corp. in a report on Wednesday, May 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Devon Energy Corp. in a report on Thursday, June 30th. Finally, Stephens reissued a “hold” rating on shares of Devon Energy Corp. in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.03.
The stock’s market capitalization is $18.82 billion. The firm’s 50-day moving average price is $37.01 and its 200-day moving average price is $30.56.
The company also recently declared 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 of this dividend is Tuesday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%.
In related news, Director Robert H. Henry sold 7,100 shares of the company’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 completion of the sale, the director now owns 9,748 shares in the company, valued at approximately $364,867.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Other large investors recently added to or reduced their stakes in the company. Advantus Capital Management Inc increased its stake in Devon Energy Corp. by 3.0% in the fourth quarter. Advantus Capital Management Inc now owns 37,236 shares of the energy company’s stock worth $1,192,000 after buying an additional 1,078 shares during the last quarter. Palladium Partners LLC increased its stake in Devon Energy Corp. by 2.7% in the fourth quarter. Palladium Partners LLC now owns 88,391 shares of the energy company’s stock worth $2,829,000 after buying an additional 2,290 shares during the last quarter. Deere & Co. increased its stake in Devon Energy Corp. by 193.2% in the fourth quarter. Deere & Co. now owns 81,811 shares of the energy company’s stock worth $2,618,000 after buying an additional 53,907 shares during the last quarter. Schroder Investment Management Group bought a new stake in Devon Energy Corp. during the fourth quarter worth about $10,664,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in Devon Energy Corp. by 5.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 51,749 shares of the energy company’s stock worth $1,656,000 after buying an additional 2,802 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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