UBS Group Has Lowered Expectations for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its price objective decreased by UBS Group from $41.00 to $35.00 in a research report sent to investors on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the energy company’s stock.

A number of other research analysts have also recently commented on DVN. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Mizuho reduced their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Devon Energy Trading Up 16.2 %

NYSE:DVN opened at $31.15 on Monday. The business’s 50-day moving average is $34.62 and its two-hundred day moving average is $36.31. The firm has a market capitalization of $20.22 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy has a 12 month low of $25.89 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.08%. Devon Energy’s dividend payout ratio is 21.05%.

Hedge Funds Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hurley Capital LLC bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $26,000. Accredited Wealth Management LLC acquired a new stake in Devon Energy in the fourth quarter worth $28,000. Cromwell Holdings LLC lifted its stake in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at $43,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy during the fourth quarter worth about $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Company Profile

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.