Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
Devon Energy Stock Performance
DVN Stock opened at $64.46 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of 8.18 and a beta of 2.55. Devon Energy has a 1 year low of $24.46 and a 1 year high of $79.40. The stock's fifty day moving average is $59.94 and its two-hundred day moving average is $60.28.
Devon Energy (NYSE:DVN - Get Rating) last posted its earnings results on Monday, August 1st. The energy company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.21. Devon Energy had a return on equity of 48.58% and a net margin of 30.65%. The company had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $4.77 billion. During the same period last year, the business posted $0.60 earnings per share. The firm's quarterly revenue was up 132.8% compared to the same quarter last year. On average, research analysts predict that Devon Energy will post 9.02 EPS for the current year.
Devon Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be paid a dividend of $1.55 per share. This is a boost from Devon Energy's previous quarterly dividend of $1.27. This represents a $6.20 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date of this dividend is Friday, September 9th. Devon Energy's payout ratio is currently 64.47%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on DVN. Credit Suisse Group upped their target price on shares of Devon Energy from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Thursday, June 9th. Mizuho lowered their price objective on shares of Devon Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, July 19th. StockNews.com downgraded shares of Devon Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, August 3rd. Susquehanna increased their price objective on shares of Devon Energy from $62.00 to $73.00 in a research report on Monday, April 25th. Finally, Barclays set a $89.00 price objective on shares of Devon Energy in a research report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.24.
Insider Activity at Devon Energy
In related news, Director Ann G. Fox sold 2,150 shares of Devon Energy stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $70.27, for a total transaction of $151,080.50. Following the sale, the director now directly owns 26,858 shares in the company, valued at $1,887,311.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Ann G. Fox sold 2,150 shares of Devon Energy stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $70.27, for a total value of $151,080.50. Following the transaction, the director now owns 26,858 shares of the company's stock, valued at approximately $1,887,311.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dennis C. Cameron sold 4,537 shares of Devon Energy stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $53.55, for a total value of $242,956.35. Following the completion of the transaction, the executive vice president now directly owns 270,269 shares in the company, valued at approximately $14,472,904.95. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.