Devon Energy (NYSE:DVN) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Devon Energy (NYSE:DVN) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company cut their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna cut their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Raymond James reduced their target price on Devon Energy from $58.00 to $51.00 in a report on Tuesday. Finally, Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Devon Energy Stock Performance

DVN stock traded down $0.03 on Thursday, reaching $38.86. The company’s stock had a trading volume of 5,701,086 shares, compared to its average volume of 7,418,489. The firm has a fifty day moving average of $40.60 and a two-hundred day moving average of $44.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The company has a market capitalization of $24.33 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. Devon Energy has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results 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 29.14% and a net margin of 22.60%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that Devon Energy will post 4.93 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is 15.97%.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DVN. GSA Capital Partners LLP increased its holdings in shares of Devon Energy by 89.4% in the first quarter. GSA Capital Partners LLP now owns 18,351 shares of the energy company’s stock valued at $921,000 after purchasing an additional 8,661 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Devon Energy by 40.9% in the 1st quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock valued at $43,000 after buying an additional 250 shares during the period. Empirical Finance LLC grew its holdings in shares of Devon Energy by 2.9% in the 1st quarter. Empirical Finance LLC now owns 29,903 shares of the energy company’s stock valued at $1,501,000 after buying an additional 848 shares during the period. Cove Street Capital LLC grew its holdings in shares of Devon Energy by 103.1% in the 1st quarter. Cove Street Capital LLC now owns 55,516 shares of the energy company’s stock valued at $2,786,000 after buying an additional 28,182 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Devon Energy in the 1st quarter valued at $27,418,000. Institutional investors and hedge funds 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.