Devon Energy Co. (NYSE:DVN) Receives $49.43 Consensus Target Price from Analysts

Shares of Devon Energy Co. (NYSE:DVN) have received an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $49.27.

Several equities analysts recently commented on DVN shares. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. BMO Capital Markets decreased their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Barclays cut their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Piper Sandler lowered their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th.

Devon Energy Stock Down 1.2 %

Devon Energy stock opened at $37.98 on Tuesday. Devon Energy has a twelve month low of $30.39 and a twelve month high of $55.09. The company’s 50-day moving average price is $35.48 and its two-hundred day moving average price is $40.27. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market cap of $24.95 billion, a P/E ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Devon Energy will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP bought a new stake in Devon Energy during the 3rd quarter worth approximately $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy during the third quarter worth $39,000. True Wealth Design LLC grew its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. Finally, Activest Wealth Management raised its position in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

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.