Devon Energy Co. (NYSE:DVN) Receives Average Recommendation of "Moderate Buy" from Analysts

Devon Energy Co. (NYSE:DVN - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-three research firms that are presently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.71.

Several research firms have issued reports on DVN. Truist Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Cowen downgraded shares of Devon Energy to a "hold" rating and lowered their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Royal Bank of Canada lowered their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Devon Energy in the fourth quarter worth about $782,000. Resona Asset Management Co. Ltd. purchased a new stake in Devon Energy during the 4th quarter valued at about $5,967,000. New York State Teachers Retirement System grew its stake in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock valued at $24,101,000 after acquiring an additional 31,520 shares in the last quarter. First Dallas Securities Inc. grew its stake in Devon Energy by 31.9% during the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after acquiring an additional 12,760 shares in the last quarter. Finally, Aviva PLC grew its stake in shares of Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after buying an additional 333,530 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Up 0.0%

NYSE DVN traded up $0.01 on Monday, hitting $31.15. The stock had a trading volume of 7,037,546 shares, compared to its average volume of 8,640,838. The business's fifty day moving average price is $32.20 and its 200 day moving average price is $34.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy has a 52-week low of $25.89 and a 52-week high of $49.35. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. Devon Energy's dividend payout ratio is presently 21.87%.

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.