Devon Energy Co. (NYSE:DVN) Short Interest Update

Devon Energy Co. (NYSE:DVN) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 25,880,000 shares, a growth of 22.5% from the November 30th total of 21,120,000 shares. Based on an average daily trading volume, of 9,640,000 shares, the short-interest ratio is presently 2.7 days. Currently, 4.2% of the company’s shares are short sold.

Devon Energy Stock Up 2.3 %

NYSE DVN traded up $0.74 on Tuesday, hitting $32.71. 7,701,427 shares of the stock were exchanged, compared to its average volume of 7,815,362. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a 50-day moving average price of $36.48 and a 200-day moving average price of $41.32. The company has a market cap of $21.49 billion, a PE ratio of 6.07, a PEG ratio of 1.10 and a beta of 1.99. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Truist Financial downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $49.00 to $43.00 in a report on Thursday, November 7th. 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. TD Cowen decreased their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Mizuho cut their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.05.

Hedge Funds Weigh In On Devon Energy

Several hedge funds have recently made changes to their positions in DVN. Archer Investment Corp increased its stake in Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the period. SkyOak Wealth LLC lifted its position in Devon Energy by 4.1% during the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock worth $298,000 after acquiring an additional 250 shares during the period. Riversedge Advisors LLC grew its stake in shares of Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the last quarter. Modus Advisors LLC increased its holdings in shares of Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after purchasing an additional 272 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of Devon Energy by 1.6% during the second quarter. Coldstream Capital Management Inc. now owns 17,816 shares of the energy company’s stock worth $844,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.