Stifel Nicolaus set a $66.00 price objective on Devon Energy Corporation (NYSE:DVN) in a report issued on Thursday. The firm currently has a buy rating on the energy company’s stock.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets set a $38.00 price target on shares of Devon Energy Corporation and gave the stock a buy rating in a research note on Monday, August 28th. BidaskClub raised shares of Devon Energy Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Citigroup Inc. decreased their price target on shares of Devon Energy Corporation from $52.00 to $40.00 and set a buy rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a buy rating in a research note on Friday, August 25th. Finally, Sanford C. Bernstein cut shares of Devon Energy Corporation from an outperform rating to a market perform rating and decreased their price target for the stock from $54.00 to $33.00 in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $45.29.

Shares of Devon Energy Corporation (NYSE DVN) opened at 35.78 on Thursday. The firm has a market capitalization of $18.81 billion, a PE ratio of 8.10 and a beta of 2.21. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm has a 50-day moving average of $33.53 and a 200-day moving average of $34.90.

Devon Energy Corporation (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Devon Energy Corporation will post $1.73 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio is 5.47%.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the sale, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.51% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Park National Corp OH lifted its holdings in Devon Energy Corporation by 0.8% during the 2nd quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock valued at $217,000 after purchasing an additional 54 shares during the last quarter. Point View Wealth Management Inc. lifted its holdings in Devon Energy Corporation by 1.2% during the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock valued at $266,000 after purchasing an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in Devon Energy Corporation by 1.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock valued at $225,000 after purchasing an additional 96 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Devon Energy Corporation by 1.1% during the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after purchasing an additional 99 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. lifted its holdings in Devon Energy Corporation by 1.0% during the 1st quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock valued at $420,000 after purchasing an additional 100 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

About Devon Energy Corporation

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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