Devon Energy (NYSE:DVN) Trading Down 1.3% – What’s Next?

Devon Energy Co. (NYSE:DVN) shares traded down 1.3% during mid-day trading on Friday . The company traded as low as $38.05 and last traded at $37.93. 1,890,449 shares were traded during mid-day trading, a decline of 82% from the average session volume of 10,435,148 shares. The stock had previously closed at $38.42.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Price Performance

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 company has a market capitalization of $24.87 billion, a P/E ratio of 7.02, a P/E/G ratio of 1.14 and a beta of 2.00. The firm has a fifty day moving average of $35.50 and a 200 day moving average of $40.39.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dakota Wealth Management raised its holdings in Devon Energy by 260.8% in the 4th quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock worth $629,000 after purchasing an additional 13,900 shares during the period. MCF Advisors LLC raised its stake in shares of Devon Energy by 60.6% in the fourth quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock worth $200,000 after buying an additional 2,306 shares during the period. Segment Wealth Management LLC lifted its position in shares of Devon Energy by 4.5% during the 4th quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock valued at $293,000 after buying an additional 385 shares in the last quarter. Perpetual Ltd grew its stake in shares of Devon Energy by 165.2% during the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock valued at $532,000 after acquiring an additional 10,133 shares during the period. Finally, Lmcg Investments LLC increased its holdings in Devon Energy by 1.6% in the 4th quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock worth $1,861,000 after acquiring an additional 896 shares in 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.