Shares of Devon Energy Corp. (NYSE:DVN) dropped 5.4% on Monday . The stock traded as low as $36.21 and last traded at $36.23, with a volume of 4,077,018 shares changing hands. The stock had previously closed at $38.28.

DVN has been the subject of several recent analyst reports. Citigroup Inc. raised their target price 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. Sanford C. Bernstein restated an “outperform” rating on shares of Devon Energy Corp. in a research note on Tuesday, April 12th. Evercore ISI upgraded Devon Energy Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $40.00 in a research note on Friday, April 15th. Morgan Stanley upgraded Devon Energy Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $36.00 in a research note on Tuesday, April 19th. Finally, Vetr downgraded Devon Energy Corp. from a “strong-buy” rating to a “sell” rating and set a $32.50 price target for the company. in a research note on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. Devon Energy Corp. has an average rating of “Buy” and an average price target of $40.03.

The company’s market cap is $19.45 billion. The company’s 50-day moving average is $37.02 and its 200-day moving average is $30.65.

Devon Energy Corp. (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.25. The business earned $2.49 billion during the quarter, compared to analyst estimates of $2.29 million. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was down 26.7% on a year-over-year basis. On average, equities analysts predict that Devon Energy Corp. will post ($0.72) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors 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 annualized dividend and a yield of 0.66%.

In related news, Director Robert H. Henry sold 7,100 shares of the 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 in the company, valued at $364,867.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of large investors have recently bought and sold shares of DVN. Vanguard Group Inc. raised its stake in 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 valued at $753,548,000 after buying an additional 954,458 shares during the period. Palladium Partners LLC raised 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 valued at $2,829,000 after buying an additional 2,290 shares during the period. Gulf International Bank UK Ltd raised its stake in 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 valued at $3,679,000 after buying an additional 3,130 shares during the period. Foresters Investment Management Company Inc. raised its stake in Devon Energy Corp. by 1.4% in the fourth quarter. Foresters Investment Management Company Inc. now owns 428,575 shares of the energy company’s stock valued at $13,714,000 after buying an additional 5,900 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Devon Energy Corp. by 45.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 206,139 shares of the energy company’s stock valued at $6,597,000 after buying an additional 64,443 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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