Devon Energy (NYSE:DVN) had its price objective reduced by Barclays from $43.00 to $42.00 in a research note published on Thursday. They currently have a buy rating on the energy company’s stock.

A number of other analysts also recently issued reports on the stock. Stephens set a $52.00 price objective on shares of Devon Energy and gave the stock a buy rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded shares of Devon Energy from a buy rating to a hold rating in a report on Wednesday, July 25th. Mizuho started coverage on shares of Devon Energy in a research note on Monday, July 23rd. They issued a buy rating and a $59.00 price target for the company. Jefferies Financial Group set a $53.00 price target on shares of Devon Energy and gave the stock a buy rating in a research note on Wednesday, July 18th. Finally, Stifel Nicolaus set a $60.00 price target on shares of Devon Energy and gave the company a buy rating in a research report on Thursday, July 19th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $49.65.

DVN opened at $29.56 on Thursday. The firm has a market cap of $13.84 billion, a PE ratio of 46.92, a PEG ratio of 1.52 and a beta of 2.27. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. Devon Energy has a one year low of $28.94 and a one year high of $46.54.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.61 billion. Devon Energy had a net margin of 16.62% and a return on equity of 6.40%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 EPS. Sell-side analysts forecast that Devon Energy will post 1.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a $0.08 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.08%. Devon Energy’s dividend payout ratio is presently 50.79%.

In other news, Director Robert H. Henry sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $42.14, for a total value of $235,984.00. Following the transaction, the director now owns 9,704 shares in the company, valued at $408,926.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Devon Energy by 18.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,696 shares of the energy company’s stock valued at $382,000 after purchasing an additional 1,382 shares during the period. Aperio Group LLC lifted its position in Devon Energy by 0.7% during the third quarter. Aperio Group LLC now owns 220,582 shares of the energy company’s stock valued at $8,810,000 after purchasing an additional 1,574 shares during the period. Deprince Race & Zollo Inc. lifted its position in Devon Energy by 20.0% during the second quarter. Deprince Race & Zollo Inc. now owns 10,200 shares of the energy company’s stock valued at $448,000 after purchasing an additional 1,700 shares during the period. Financial Architects Inc lifted its position in Devon Energy by 168.5% during the second quarter. Financial Architects Inc now owns 2,709 shares of the energy company’s stock valued at $119,000 after purchasing an additional 1,700 shares during the period. Finally, Dupont Capital Management Corp lifted its position in Devon Energy by 37.6% during the second quarter. Dupont Capital Management Corp now owns 6,413 shares of the energy company’s stock valued at $282,000 after purchasing an additional 1,753 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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Analyst Recommendations for Devon Energy (NYSE:DVN)

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