Devon Energy Corp. (DVN) Trading Up 1.5%
Devon Energy Corp. (NYSE:DVN)’s share price was up 1.5% during mid-day trading on Wednesday . The stock traded as high as $43.22 and last traded at $43.09, with a volume of 4,267,236 shares trading hands. The stock had previously closed at $42.47.
Several equities analysts recently issued reports on DVN shares. Howard Weil upgraded shares of Devon Energy Corp. from a “sector outperform” rating to a “focus stock” rating and boosted their price target for the company from $50.00 to $61.00 in a research report on Monday, July 11th. Zacks Investment Research upgraded shares of Devon Energy Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, July 26th. Morgan Stanley reiterated an “overweight” rating on shares of Devon Energy Corp. in a research report on Wednesday, June 29th. Vetr cut shares of Devon Energy Corp. from a “strong-buy” rating to a “sell” rating and set a $32.50 price target on the stock. in a research report on Monday, April 25th. Finally, Deutsche Bank AG boosted their price target on shares of Devon Energy Corp. from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. Devon Energy Corp. currently has an average rating of “Buy” and an average target price of $41.56.
The company’s 50-day moving average is $38.16 and its 200-day moving average is $31.74. The firm’s market capitalization is $22.68 billion.
Devon Energy Corp. (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.25. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.29 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was down 26.7% on a year-over-year basis. Equities research analysts forecast that Devon Energy Corp. will post ($0.27) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, September 13th.
In other Devon Energy Corp. news, Director Robert H. Henry sold 7,100 shares of Devon Energy Corp. stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $37.43, for a total transaction of $265,753.00. Following the completion of the sale, the director now directly owns 9,748 shares in the company, valued at approximately $364,867.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of hedge funds have made changes to their positions in the stock. Advantus Capital Management Inc boosted its stake in shares of 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 during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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. Mutual of America Capital Management LLC boosted its position in 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 in the last quarter. Bridgewater Associates LP boosted its position in Devon Energy Corp. by 6.9% in the fourth quarter. Bridgewater Associates LP now owns 125,805 shares of the energy company’s stock valued at $4,026,000 after buying an additional 8,105 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in Devon Energy Corp. by 15.3% in the fourth quarter. Suntrust Banks Inc. now owns 85,745 shares of the energy company’s stock valued at $2,742,000 after buying an additional 11,379 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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