Devon Energy Corporation (NYSE:DVN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Devon Energy Corporation (NYSE:DVN) has been assigned an average rating of “Moderate Buy” from the thirty research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $44.8621.

Several research firms have weighed in on DVN. Susquehanna lifted their target price on Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday, November 12th. Mizuho boosted their price objective on shares of Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. The Goldman Sachs Group upped their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Morgan Stanley lifted their target price on shares of Devon Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Finally, Sanford C. Bernstein upped their price target on shares of Devon Energy from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $37.87 on Tuesday. The company’s fifty day moving average is $35.61 and its two-hundred day moving average is $34.44. The company has a market cap of $23.76 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 3.10 and a beta of 0.60. Devon Energy has a 12-month low of $25.89 and a 12-month high of $38.88. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the previous year, the company posted $1.10 earnings per share. Equities analysts expect that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio is presently 22.59%.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Devon Energy during the second quarter valued at approximately $25,000. Caldwell Trust Co acquired a new position in shares of Devon Energy during the 2nd quarter worth $25,000. PFS Partners LLC bought a new position in shares of Devon Energy during the 3rd quarter valued at $25,000. First Horizon Corp acquired a new stake in shares of Devon Energy in the 3rd quarter valued at $26,000. Finally, Accredited Wealth Management LLC boosted its holdings in Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.