Shares of Devon Energy Corp (NYSE:DVN) were up 5.5% during mid-day trading on Monday . The company traded as high as $24.68 and last traded at $24.63, approximately 7,210,883 shares changed hands during mid-day trading. An increase of 1% from the average daily volume of 7,125,168 shares. The stock had previously closed at $23.35.

DVN has been the subject of a number of analyst reports. SunTrust Banks initiated coverage on shares of Devon Energy in a report on Tuesday, July 30th. They set a “buy” rating and a $33.00 target price for the company. Morgan Stanley cut their price target on Devon Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. ValuEngine upgraded Devon Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Mitsubishi UFJ Financial Group raised their price target on Devon Energy to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Guggenheim set a $35.00 price objective on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Devon Energy presently has an average rating of “Hold” and an average target price of $37.09.

The company has a 50 day moving average of $23.65 and a 200 day moving average of $27.96. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.75 and a beta of 2.34.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Devon Energy had a return on equity of 8.42% and a net margin of 39.80%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Equities analysts forecast that Devon Energy Corp will post 1.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.44%. Devon Energy’s dividend payout ratio is currently 27.91%.

In other news, CAO Jeremy D. Humphers sold 1,500 shares of Devon Energy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total transaction of $32,490.00. Following the transaction, the chief accounting officer now owns 42,475 shares in the company, valued at approximately $920,008.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DVN. Westside Investment Management Inc. acquired a new stake in shares of Devon Energy during the second quarter worth $45,000. Advisory Services Network LLC lifted its position in Devon Energy by 43.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after acquiring an additional 516 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in Devon Energy by 88.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock worth $49,000 after purchasing an additional 814 shares during the period. Resources Investment Advisors LLC. boosted its stake in Devon Energy by 8,181.8% in the 2nd quarter. Resources Investment Advisors LLC. now owns 1,822 shares of the energy company’s stock worth $52,000 after purchasing an additional 1,800 shares during the period. Finally, HM Payson & Co. acquired a new position in Devon Energy in the 2nd quarter worth $57,000. 85.93% of the stock is owned by institutional investors and hedge funds.

About Devon Energy (NYSE:DVN)

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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