Devon Energy Co. (NYSE:DVN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Devon Energy Co. (NYSE:DVN) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $57.94.

DVN has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Raymond James reduced their price target on Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Mizuho reduced their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Barclays initiated coverage on Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. Finally, Morgan Stanley upped their price target on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th.

Devon Energy Price Performance

DVN opened at $51.83 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. Devon Energy has a 52-week low of $40.47 and a 52-week high of $55.09. The stock has a market capitalization of $32.91 billion, a PE ratio of 8.89 and a beta of 2.19. The stock’s 50 day moving average price is $47.89 and its 200-day moving average price is $45.90.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy will post 5.14 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is currently 15.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in shares of Devon Energy during the first quarter valued at $26,000. Fortis Capital Advisors LLC bought a new position in shares of Devon Energy during the fourth quarter valued at $31,000. KB Financial Partners LLC bought a new position in shares of Devon Energy during the first quarter valued at $26,000. Coppell Advisory Solutions LLC bought a new position in shares of Devon Energy during the second quarter valued at $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Devon Energy during the third quarter valued at $27,000. 69.72% of the stock is 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.