Devon Energy (NYSE:DVN) Upgraded at StockNews.com

StockNews.com upgraded shares of Devon Energy (NYSE:DVN) from a sell rating to a hold rating in a research report report published on Friday.

DVN has been the subject of several other research reports. Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Susquehanna reduced their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $49.00 to $43.00 in a report on Thursday, November 7th. Evercore ISI cut their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, Raymond James decreased their price objective on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.81.

Devon Energy Stock Performance

DVN stock opened at $33.93 on Friday. Devon Energy has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $35.97 and a 200-day moving average price of $40.97. The firm has a market cap of $22.29 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99.

Devon Energy (NYSE:DVN) last issued 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 company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.59%. Devon Energy’s dividend payout ratio is presently 16.33%.

Institutional Trading of Devon Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. SkyOak Wealth LLC grew its position in shares of Devon Energy by 4.1% in the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after purchasing an additional 250 shares in the last quarter. Riversedge Advisors LLC grew its holdings in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC increased its position in shares of Devon Energy by 2.4% during the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after buying an additional 272 shares during the period. Coldstream Capital Management Inc. increased its position 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 valued at $844,000 after buying an additional 279 shares during the period. Finally, Lummis Asset Management LP lifted its holdings in shares of Devon Energy by 1.0% in the second quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after buying an additional 290 shares in the last quarter. 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.