Devon Energy Corp. (NYSE:DVN) shares gapped up prior to trading on Monday . The stock had previously closed at $39.35, but opened at $39.51. Devon Energy Corp. shares last traded at $40.81, with a volume of 4,356,888 shares traded.

Several research analysts have issued reports on DVN shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Devon Energy Corp. in a research report on Tuesday, April 12th. Evercore ISI raised Devon Energy Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $40.00 in a research report on Friday, April 15th. Morgan Stanley raised Devon Energy Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $36.00 in a research report on Tuesday, April 19th. Vetr cut Devon Energy Corp. from a “strong-buy” rating to a “sell” rating and set a $32.50 target price on the stock. in a research report on Tuesday, April 19th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $41.00 target price (up from $32.00) on shares of Devon Energy Corp. in a research report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.00.

The firm’s market cap is $21.05 billion. The stock’s 50-day moving average is $37.44 and its 200 day moving average is $31.06.

Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.25. The business earned $2.49 billion during the quarter, compared to analysts’ expectations of $2.29 million. The company’s revenue was down 26.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts predict that Devon Energy Corp. will post ($0.55) earnings per share for the current fiscal 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 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 yield of 0.60%.

In related news, Director Robert H. Henry sold 7,100 shares of the stock in a transaction that occurred on 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 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 hyperlink.

A number of hedge funds and institutional investors have modified their holdings of DVN. Mutual of America Capital Management LLC raised 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 valued at $1,386,000 after buying an additional 390 shares during the last quarter. Advantus Capital Management Inc raised its position 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 valued at $1,192,000 after buying an additional 1,078 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position 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 valued at $1,656,000 after buying an additional 2,802 shares in the last quarter. Foresters Investment Management Company Inc. raised its position 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 in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in Devon Energy Corp. by 11.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 105,466 shares of the energy company’s stock valued at $4,720,000 after buying an additional 10,756 shares in 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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