Traders Buy Shares of Devon Energy (DVN) on Weakness

Traders bought shares of Devon Energy Corporation (NYSE:DVN) on weakness during trading hours on Tuesday. $55.68 million flowed into the stock on the tick-up and $31.24 million flowed out of the stock on the tick-down, for a money net flow of $24.44 million into the stock. Of all companies tracked, Devon Energy had the 25th highest net in-flow for the day. Devon Energy traded down ($0.71) for the day and closed at $42.54

A number of equities research analysts recently issued reports on the company. Capital One Financial lowered Devon Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating and set a $42.00 price target on shares of Devon Energy in a research note on Tuesday. Barclays reissued a “buy” rating and set a $39.00 price target on shares of Devon Energy in a research note on Sunday, December 24th. Royal Bank of Canada set a $47.00 price target on Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Jefferies Group set a $46.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.06.

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $22,170.00, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.56 and a beta of 2.21.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. research analysts anticipate that Devon Energy Corporation will post 1.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 14th. Devon Energy’s payout ratio is 8.16%.

In other news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the transaction, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foundation Resource Management Inc. raised its position in shares of Devon Energy by 23.8% in the 4th quarter. Foundation Resource Management Inc. now owns 46,323 shares of the energy company’s stock worth $1,918,000 after acquiring an additional 8,910 shares in the last quarter. DnB Asset Management AS raised its position in shares of Devon Energy by 5.5% in the 4th quarter. DnB Asset Management AS now owns 57,675 shares of the energy company’s stock worth $2,388,000 after acquiring an additional 3,000 shares in the last quarter. Polianta Ltd bought a new position in shares of Devon Energy in the 4th quarter worth $1,299,000. Parametric Portfolio Associates LLC raised its position in shares of Devon Energy by 41.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,674,222 shares of the energy company’s stock worth $61,461,000 after acquiring an additional 490,300 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Devon Energy in the 3rd quarter worth $183,000. 77.44% of the stock is owned by hedge funds and other institutional investors.

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Devon Energy Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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