Devon Energy (NYSE:DVN) Shares Down 0.8% – Time to Sell?

Devon Energy Co. (NYSE:DVN) shares dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $34.92 and last traded at $35.05. Approximately 1,281,555 shares traded hands during trading, a decline of 87% from the average daily volume of 9,908,402 shares. The stock had previously closed at $35.33.

Analyst Upgrades and Downgrades

DVN has been the topic of several recent analyst reports. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. BMO Capital Markets decreased their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. Wells Fargo & Company decreased their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.41.

Devon Energy Trading Down 1.3 %

The stock has a fifty day moving average of $35.20 and a 200-day moving average of $39.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market cap of $22.91 billion, a PE ratio of 6.47, a PEG ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DVN. Riversedge Advisors LLC boosted its stake in shares of Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares during the last quarter. Modus Advisors LLC raised its holdings 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 acquiring an additional 272 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Sfmg LLC raised its holdings in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares during the last quarter. Finally, Redwood Wealth Management Group LLC increased its holdings in shares of Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after purchasing an additional 309 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

About Devon Energy

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.