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 note published on Friday.

Several other analysts have also recently weighed in on the stock. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. UBS Group dropped their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Susquehanna reduced their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets dropped their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.81.

Devon Energy Price Performance

Devon Energy stock opened at $33.93 on Friday. The business has a 50-day simple moving average of $35.97 and a 200 day simple moving average of $40.97. Devon Energy has a 52 week low of $30.39 and a 52 week high of $55.09. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 6.30, 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 issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. On average, research analysts forecast that Devon Energy will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared 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. This represents a $0.88 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Institutional Investors Weigh In On Devon Energy

A number of large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the third quarter valued at approximately $35,000. Future Financial Wealth Managment LLC bought a new position in Devon Energy in the 3rd quarter worth $39,000. True Wealth Design LLC lifted its position in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management increased its position in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the period. 69.72% of the stock is currently owned by institutional investors.

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.