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

Shares of Devon Energy Co. (NYSE:DVN) have earned an average rating of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $48.17.

A number of analysts have recently commented on DVN shares. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Citigroup cut their price target on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a report on Friday. Susquehanna lifted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Finally, Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, March 10th.

Devon Energy Stock Performance

Shares of DVN opened at $29.30 on Friday. Devon Energy has a 52-week low of $29.06 and a 52-week high of $55.09. The firm has a market capitalization of $19.01 billion, a PE ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. The firm has a 50-day moving average price of $35.22 and a 200 day moving average price of $36.70. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, sell-side analysts anticipate that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.28%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Institutional Trading of Devon Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Sage Capital Advisors llc acquired a new position in Devon Energy in the 1st quarter worth about $224,000. Versant Capital Management Inc increased its holdings in Devon Energy by 128.9% in the first quarter. Versant Capital Management Inc now owns 2,635 shares of the energy company’s stock worth $99,000 after buying an additional 1,484 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Devon Energy by 94.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 8,689 shares of the energy company’s stock valued at $325,000 after acquiring an additional 4,212 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Devon Energy in the fourth quarter valued at approximately $141,000. Finally, DSG Capital Advisors LLC bought a new stake in Devon Energy in the fourth quarter worth approximately $790,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.