Devon Energy Co. (NYSE:DVN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Devon Energy Co. (NYSE:DVN) have been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.58.

A number of equities analysts have recently issued reports on DVN shares. Truist Financial increased their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Barclays raised their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th.

Institutional Trading of Devon Energy

Large investors have recently modified their holdings of the business. Hurley Capital LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $26,000. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. Cromwell Holdings LLC boosted its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $43,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5 %

Devon Energy stock opened at $34.40 on Wednesday. The firm has a market cap of $22.32 billion, a PE ratio of 7.54, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm’s 50 day moving average price is $35.32 and its two-hundred day moving average price is $37.49. Devon Energy has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, research analysts predict that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.