Credit Suisse Group began coverage on shares of Devon Energy (NYSE:DVN) in a report released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $43.00 price target on the energy company’s stock.
A number of other research firms also recently weighed in on DVN. Scotiabank set a $50.00 price target on Devon Energy and gave the stock a buy rating in a research note on Saturday, November 25th. Piper Jaffray Companies reaffirmed a hold rating and set a $38.00 price target on shares of Devon Energy in a research note on Friday, November 24th. Barclays upped their price target on Devon Energy from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Monday, November 20th. Cowen set a $40.00 price target on Devon Energy and gave the stock a buy rating in a research note on Tuesday, October 31st. Finally, Stephens raised Devon Energy from an equal weight rating to an overweight rating and set a $53.00 price target on the stock in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. Devon Energy has a consensus rating of Buy and an average target price of $45.39.
Devon Energy (NYSE:DVN) opened at $38.00 on Monday. Devon Energy has a 52 week low of $28.79 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $20,165.25, a P/E ratio of 26.31, a P/E/G ratio of 1.21 and a beta of 2.21.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts anticipate that Devon Energy will post 1.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio is presently 8.19%.
Several hedge funds have recently added to or reduced their stakes in the company. Point View Wealth Management Inc. grew its holdings in shares of Devon Energy by 1.2% in the second quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock valued at $266,000 after acquiring an additional 95 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Devon Energy by 1.1% during the second quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock valued at $297,000 after purchasing an additional 99 shares during the period. Sterneck Capital Management LLC grew its holdings in Devon Energy by 4.5% during the second quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock valued at $208,000 after purchasing an additional 283 shares during the period. Nippon Life Insurance Co. grew its holdings in Devon Energy by 1.2% during the second quarter. Nippon Life Insurance Co. now owns 25,656 shares of the energy company’s stock valued at $820,000 after purchasing an additional 307 shares during the period. Finally, Utah Retirement Systems grew its holdings in Devon Energy by 0.5% during the second quarter. Utah Retirement Systems now owns 96,170 shares of the energy company’s stock valued at $3,074,000 after purchasing an additional 500 shares during the period. 77.64% of the stock is owned by institutional investors.
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Devon Energy Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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