Devon Energy (NYSE:DVN) Trading Down 1.5% – Should You Sell?

Devon Energy Co. (NYSE:DVN) dropped 1.5% during trading on Monday . The company traded as low as $35.33 and last traded at $35.43. Approximately 2,584,915 shares were traded during trading, a decline of 74% from the average daily volume of 9,968,544 shares. The stock had previously closed at $35.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank lowered their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Thursday, December 5th. Finally, Raymond James increased their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Trading Up 0.5 %

The firm has a market cap of $23.02 billion, a P/E ratio of 6.50, a P/E/G ratio of 1.21 and a beta of 2.00. The firm has a fifty day moving average of $35.14 and a 200-day moving average of $39.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS 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 analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. Devon Energy’s payout ratio is currently 16.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the third quarter valued at approximately $35,000. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy in the third quarter worth approximately $39,000. True Wealth Design LLC boosted its stake in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position 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 during the period. Finally, Activest Wealth Management raised its stake in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares in the last quarter. Institutional investors and hedge funds 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.