Shares of Devon Energy Corp (NYSE:DVN) gapped down before the market opened on Thursday . The stock had previously closed at $21.16, but opened at $22.03. Devon Energy shares last traded at $21.54, with a volume of 4,144,809 shares traded.
Several equities analysts recently commented on DVN shares. MKM Partners set a $32.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research report on Monday, August 12th. ValuEngine raised shares of Devon Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Seaport Global Securities reaffirmed a “buy” rating on shares of Devon Energy in a research report on Friday, June 21st. SunTrust Banks started coverage on shares of Devon Energy in a research report on Tuesday, July 30th. They set a “buy” rating and a $33.00 price target for the company. Finally, Piper Jaffray Companies set a $39.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research report on Friday, May 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.56.
The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.61. The firm’s 50 day simple moving average is $26.19 and its 200-day simple moving average is $28.56. The company has a market capitalization of $8.90 billion, a PE ratio of 17.47, a P/E/G ratio of 1.52 and a beta of 2.27.
Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. Devon Energy had a net margin of 39.80% and a return on equity of 8.42%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. Devon Energy’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy Corp will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.60%. Devon Energy’s dividend payout ratio is currently 27.91%.
In other Devon Energy news, CAO Jeremy D. Humphers sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $25.40, for a total transaction of $101,600.00. Following the completion of the sale, the chief accounting officer now directly owns 81,914 shares in the company, valued at $2,080,615.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Devon Energy by 94.6% in the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Devon Energy in the second quarter valued at $45,000. Advisory Services Network LLC boosted its stake in shares of Devon Energy by 43.1% in the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after purchasing an additional 516 shares during the period. CSat Investment Advisory L.P. boosted its stake in shares of Devon Energy by 88.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock valued at $49,000 after purchasing an additional 814 shares during the period. Finally, Resources Investment Advisors LLC. boosted its stake in shares of Devon Energy by 8,181.8% in the second quarter. Resources Investment Advisors LLC. now owns 1,822 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.
About Devon Energy (NYSE:DVN)
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 and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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