Devon Energy (NYSE:DVN) Stock Price Down 0.4% – Here’s What Happened

Devon Energy Co. (NYSE:DVN)’s stock price fell 0.4% during trading on Friday . The company traded as low as $33.39 and last traded at $33.79. 2,745,165 shares traded hands during trading, a decline of 64% from the average session volume of 7,524,864 shares. The stock had previously closed at $33.91.

Analyst Ratings Changes

DVN has been the subject of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. TD Cowen lowered their target price 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. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group decreased their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.75.

Devon Energy Stock Down 0.1 %

The company has a market cap of $22.26 billion, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. 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 stock has a 50-day simple moving average of $38.75 and a 200-day simple moving average of $42.57.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. Devon Energy’s dividend payout ratio is presently 16.33%.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors have recently added to or reduced their stakes in DVN. Archer Investment Corp raised its stake in shares of Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after buying an additional 235 shares in the last quarter. Institute for Wealth Management LLC. raised its position in Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after acquiring an additional 237 shares in the last quarter. SkyOak Wealth LLC raised its position in Devon Energy by 4.1% in the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock worth $298,000 after acquiring an additional 250 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in Devon Energy by 0.8% in the second quarter. SeaCrest Wealth Management LLC now owns 33,340 shares of the energy company’s stock worth $1,580,000 after acquiring an additional 252 shares in the last quarter. Finally, Riversedge Advisors LLC boosted its position in shares of Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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.