Devon Energy (NYSE:DVN) Stock Price Down 0.1% – Should You Sell?

Devon Energy Co. (NYSE:DVN)’s stock price fell 0.1% during trading on Monday . The company traded as low as $30.52 and last traded at $30.73. Approximately 2,089,446 shares were traded during trading, a decline of 73% from the average daily volume of 7,759,850 shares. The stock had previously closed at $30.77.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Evercore ISI lowered their target price 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. Finally, Truist Financial downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $49.00 to $43.00 in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.05.

Devon Energy Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market cap of $20.52 billion, a PE ratio of 5.80, a PEG ratio of 1.10 and a beta of 1.99. The business has a 50-day simple moving average of $37.21 and a 200 day simple moving average of $41.76.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.82%. Devon Energy’s payout ratio is 16.33%.

Institutional Trading of Devon Energy

Several institutional investors have recently made changes to their positions in DVN. William B. Walkup & Associates Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at approximately $1,026,000. Legacy Investment Solutions LLC purchased a new position in Devon Energy during the third quarter valued at $8,002,000. Bridgewater Associates LP bought a new stake in Devon Energy in the 3rd quarter valued at $9,426,000. Petrus Trust Company LTA lifted its stake in Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.