Shares of Devon Energy Corp. (NYSE:DVN) have been assigned a consensus recommendation of “Buy” from the thirty-eight research firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, nineteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $42.59.

Several equities research analysts have issued reports on DVN shares. Zacks Investment Research raised shares of Devon Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, August 16th. Vetr cut shares of Devon Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $45.44 target price on the stock. in a research note on Tuesday, September 13th. Bank of America Corp. reaffirmed a “buy” rating and set a $60.00 target price (up previously from $56.00) on shares of Devon Energy Corp. in a research note on Tuesday, August 16th. Raymond James Financial Inc. cut shares of Devon Energy Corp. from an “outperform” rating to a “market perform” rating and set a $45.84 target price on the stock. in a research note on Tuesday, September 6th. Finally, Argus lifted their target price on shares of Devon Energy Corp. from $51.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd.

Devon Energy Corp. (NYSE:DVN) opened at 42.87 on Tuesday. Devon Energy Corp. has a 12-month low of $18.07 and a 12-month high of $47.03. The company’s market capitalization is $22.45 billion. The stock has a 50 day moving average of $42.26 and a 200-day moving average of $39.27.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, December 13th. Devon Energy Corp.’s payout ratio is -1.28%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVN. IFP Advisors Inc boosted its position in Devon Energy Corp. by 20.8% in the second quarter. IFP Advisors Inc now owns 2,806 shares of the energy company’s stock valued at $102,000 after buying an additional 483 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in Devon Energy Corp. during the third quarter valued at about $132,000. Catalyst Capital Advisors LLC acquired a new position in Devon Energy Corp. during the third quarter valued at about $136,000. Ropes Wealth Advisors LLC boosted its position in Devon Energy Corp. by 738.7% in the second quarter. Ropes Wealth Advisors LLC now owns 3,338 shares of the energy company’s stock valued at $121,000 after buying an additional 2,940 shares during the last quarter. Finally, Tuttle Tactical Management LLC acquired a new position in Devon Energy Corp. during the third quarter valued at about $149,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Devon Energy Corp. Company Profile

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.

5 Day Chart for NYSE:DVN

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