Cowen and Company reissued their buy rating on shares of Devon Energy Corporation (NYSE:DVN) in a research report released on Tuesday. The firm currently has a $37.00 price objective on the energy company’s stock.

Several other brokerages have also recently issued reports on DVN. Barclays PLC restated an overweight rating and issued a $35.00 target price (up previously from $31.00) on shares of Devon Energy Corporation in a report on Thursday, August 3rd. Royal Bank Of Canada set a $53.00 target price on shares of Devon Energy Corporation and gave the stock a buy rating in a report on Monday, May 29th. BidaskClub upgraded shares of Devon Energy Corporation from a sell rating to a hold rating in a report on Wednesday, July 19th. Bank of America Corporation restated a buy rating on shares of Devon Energy Corporation in a report on Thursday, May 11th. Finally, Piper Jaffray Companies started coverage on shares of Devon Energy Corporation in a report on Monday, July 17th. They issued a neutral rating and a $48.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $46.30.

Devon Energy Corporation (NYSE DVN) opened at 31.16 on Tuesday. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 7.05 and a beta of 2.17. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The company has a 50-day moving average of $31.66 and a 200 day moving average of $36.76.

Devon Energy Corporation (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The business’s revenue was up 31.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, analysts anticipate that Devon Energy Corporation will post $1.74 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is presently 5.47%.

In other news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the sale, the director now owns 11,338 shares in the company, valued at approximately $378,122.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in DVN. Exencial Wealth Advisors LLC boosted its stake in shares of Devon Energy Corporation by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock worth $511,000 after buying an additional 46 shares during the period. Park National Corp OH boosted its stake in shares of Devon Energy Corporation by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock worth $217,000 after buying an additional 54 shares during the period. Point View Wealth Management Inc. boosted its stake in shares of Devon Energy Corporation by 1.2% in the second quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after buying an additional 95 shares during the period. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Devon Energy Corporation by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after buying an additional 96 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in shares of Devon Energy Corporation by 1.1% in the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Devon Energy Corporation Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

Analyst Recommendations for Devon Energy Corporation (NYSE:DVN)

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