Stifel Nicolaus Analysts Give Devon Energy Corporation (DVN) a $61.00 Price Target
Several other equities analysts also recently weighed in on the company. Barclays PLC reiterated an overweight rating and set a $35.00 target price (up from $31.00) on shares of Devon Energy Corporation in a research report on Thursday, August 3rd. Royal Bank Of Canada set a $53.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Monday, May 29th. BidaskClub upgraded Devon Energy Corporation from a sell rating to a hold rating in a research report on Wednesday, July 19th. Bank of America Corporation reiterated a buy rating on shares of Devon Energy Corporation in a research report on Thursday, May 11th. Finally, Piper Jaffray Companies initiated coverage on Devon Energy Corporation in a research report on Monday, July 17th. They set a neutral rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $46.30.
Devon Energy Corporation (DVN) opened at 31.16 on Friday. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The firm’s 50-day moving average price is $31.66 and its 200 day moving average price is $36.76. The company has a market cap of $16.38 billion, a PE ratio of 7.05 and a beta of 2.17.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 5.36% and a net margin of 16.07%. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, equities analysts predict that Devon Energy Corporation will post $1.74 EPS for the current fiscal year.
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The company 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 $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. Devon Energy Corporation’s dividend payout ratio (DPR) is 5.47%.
In other news, Director Robert H. Henry sold 7,045 shares of Devon Energy Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total value of $234,950.75. Following the sale, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company’s stock.
Large investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Devon Energy Corporation by 10.4% in the first quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after buying an additional 248 shares during the period. FTB Advisors Inc. boosted its stake in shares of Devon Energy Corporation by 84.2% in the first quarter. FTB Advisors Inc. now owns 2,755 shares of the energy company’s stock valued at $108,000 after buying an additional 1,259 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Devon Energy Corporation during the first quarter valued at about $116,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of Devon Energy Corporation by 88.9% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,400 shares of the energy company’s stock valued at $142,000 after buying an additional 1,600 shares during the period. Finally, Sun Life Financial INC boosted its stake in shares of Devon Energy Corporation by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares during the period. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
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).
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