Devon Energy Corp (DVN) Receives $48.88 Consensus Price Target from Analysts
Devon Energy Corp (NYSE:DVN) has received a consensus rating of “Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $48.50.
Several research firms recently commented on DVN. Capital One Financial cut Devon Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 10th. Credit Suisse Group began coverage on Devon Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $43.00 target price for the company. Cowen set a $40.00 target price on Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Citigroup restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Tuesday, November 28th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $42.00 target price on shares of Devon Energy in a research report on Tuesday, January 9th.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the sale, the executive vice president now owns 67,900 shares of the company’s stock, valued at $2,599,891. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.51% of the company’s stock.
Devon Energy (NYSE DVN) traded down $0.63 during trading on Wednesday, reaching $34.11. The company had a trading volume of 6,752,840 shares, compared to its average volume of 5,710,000. Devon Energy has a twelve month low of $28.79 and a twelve month high of $45.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $17,930.00, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.68 and a beta of 2.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.70%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 8.16%.
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Devon Energy 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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