Devon Energy Co. (NYSE:DVN - Get Free Report) dropped 0.1% during mid-day trading on Monday . The stock traded as low as $30.52 and last traded at $30.73. Approximately 2,089,446 shares changed hands during trading, a decline of 73% from the average daily volume of 7,759,850 shares. The stock had previously closed at $30.77.
DVN has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. BMO Capital Markets lowered their price target on Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Citigroup reduced their price objective on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Evercore ISI lowered their target price on shares of Devon Energy from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Monday, September 30th. Finally, Raymond James dropped their price target on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy has a consensus rating of "Hold" and a consensus price target of $50.05.
Get Our Latest Stock Report on DVN
The firm's 50-day moving average price is $37.65 and its two-hundred day moving average price is $41.98. 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 firm has a market capitalization of $20.29 billion, a PE ratio of 5.73, a P/E/G ratio of 1.10 and a beta of 1.99.
Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the company posted $1.65 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.85%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.
Hedge funds have recently made changes to their positions in the stock. Clear Creek Financial Management LLC purchased a new stake in shares of Devon Energy during the second quarter worth $274,000. Bank of New York Mellon Corp grew its stake in shares of Devon Energy by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company's stock valued at $221,853,000 after buying an additional 18,443 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Devon Energy by 4.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 8,518 shares of the energy company's stock valued at $404,000 after acquiring an additional 334 shares in the last quarter. WealthShield Partners LLC lifted its stake in Devon Energy by 5.2% in the second quarter. WealthShield Partners LLC now owns 33,578 shares of the energy company's stock valued at $1,592,000 after acquiring an additional 1,665 shares during the last quarter. Finally, Riversedge Advisors LLC lifted its stake in Devon Energy by 3.7% in the second quarter. Riversedge Advisors LLC now owns 7,083 shares of the energy company's stock valued at $336,000 after acquiring an additional 254 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.
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.
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