Devon Energy Corp. (DVN) Shares Down 3.1%
Devon Energy Corp. (NYSE:DVN)’s share price was down 3.1% during trading on Wednesday . The stock traded as low as $42.74 and last traded at $43.07, with a volume of 3,627,812 shares trading hands. The stock had previously closed at $44.44.
Several equities analysts have commented on DVN shares. Johnson Rice upgraded Devon Energy Corp. from a “hold” rating to an “accumulate” rating in a research report on Thursday, May 19th. KLR Group downgraded Devon Energy Corp. from a “buy” rating to an “accumulate” rating and increased their target price for the company from $41.00 to $44.00 in a research report on Monday, July 18th. Bank of America Corp. reiterated a “buy” rating on shares of Devon Energy Corp. in a research report on Thursday, June 16th. Wunderlich increased their target price on Devon Energy Corp. from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, June 16th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $40.00 target price (up from $35.00) on shares of Devon Energy Corp. in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.63.
The firm’s market capitalization is $23.40 billion. The company has a 50-day moving average of $40.46 and a 200-day moving average of $33.37.
Devon Energy Corp. (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.25. During the same period last year, the company posted $0.78 earnings per share. The business earned $2.49 billion during the quarter, compared to the consensus estimate of $2.29 million. The business’s revenue was down 26.7% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corp. will post ($0.27) EPS 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 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 0.55%.
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 stock was 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 of the company’s stock, valued at approximately $364,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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.