Devon Energy Sees Unusually High Options Volume (NYSE:DVN)

Devon Energy Co. (NYSE:DVN - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 95,368 put options on the company. This represents an increase of approximately 219% compared to the typical volume of 29,863 put options.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DVN. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Mizuho dropped their price target on Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Barclays lowered their price objective on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $50.05.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.13 on Thursday, reaching $31.11. The stock had a trading volume of 9,001,423 shares, compared to its average volume of 7,794,132. The stock has a market cap of $20.44 billion, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a 50 day simple moving average of $36.83 and a 200 day simple moving average of $41.61.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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 quarter in the prior year, the business earned $1.65 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Devon Energy will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Hedge Funds Weigh In On Devon Energy

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Devon Energy in the third quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Devon Energy in the third quarter worth about $39,000. True Wealth Design LLC raised its position 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 acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. grew 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 grew its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

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.