Devon Energy Corp. (DVN) Stock Price Down 4.2%
Shares of Devon Energy Corp. (NYSE:DVN) were down 4.2% on Monday . The company traded as low as $36.00 and last traded at $36.18, with a volume of 3,584,923 shares. The stock had previously closed at $37.75.
A number of analysts recently weighed in on DVN shares. Citigroup Inc. upped their price objective on shares of Devon Energy Corp. from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Vetr lowered shares of Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $29.42 price objective for the company. in a research note on Thursday, March 31st. Evercore ISI raised shares of Devon Energy Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $40.00 in a research note on Friday, April 15th. Morgan Stanley raised shares of Devon Energy Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $36.00 in a research note on Tuesday, April 19th. Finally, Deutsche Bank AG lowered their price objective on shares of Devon Energy Corp. from $48.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.97.
The company’s market capitalization is $18.91 billion. The stock has a 50 day moving average price of $37.08 and a 200 day moving average price of $30.18.
Devon Energy Corp. (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 3rd. The energy company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.11. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.60 billion. The business’s revenue was down 34.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, analysts anticipate that Devon Energy Corp. will post ($0.76) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders 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 dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other news, Director Robert H. Henry sold 7,100 shares of the firm’s stock in a transaction on Monday, June 20th. The stock was 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 of the company’s stock, valued at approximately $364,867.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several large investors recently added to or reduced their stakes in DVN. KBC Group NV raised its stake in Devon Energy Corp. by 49.0% in the fourth quarter. KBC Group NV now owns 121,487 shares of the energy company’s stock valued at $3,888,000 after buying an additional 39,944 shares in the last quarter. First Washington CORP raised its stake in Devon Energy Corp. by 46.7% in the fourth quarter. First Washington CORP now owns 54,000 shares of the energy company’s stock valued at $1,728,000 after buying an additional 17,200 shares in the last quarter. 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 in the last quarter. Trexquant Investment LP bought a new stake in Devon Energy Corp. during the fourth quarter valued at $1,043,000. Finally, Systematic Financial Management LP raised its stake in Devon Energy Corp. by 63.5% in the fourth quarter. Systematic Financial Management LP now owns 955,291 shares of the energy company’s stock valued at $30,569,000 after buying an additional 371,039 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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