Devon Energy (NYSE:DVN) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of Devon Energy (NYSE:DVN) in a report issued on Tuesday, Benzinga reports.

A number of other analysts also recently issued reports on DVN. Wolfe Research began coverage on Devon Energy in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Scotiabank reduced their price objective on Devon Energy from $60.00 to $48.00 and set a sector outperform rating on the stock in a research note on Thursday, October 10th. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an outperform rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price objective on Devon Energy from $52.00 to $48.00 and set an outperform rating on the stock in a research note on Friday, October 4th. Finally, Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a market perform rating on the stock in a research note on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy has an average rating of Moderate Buy and an average price target of $52.58.

Devon Energy Stock Down 3.9 %

NYSE DVN opened at $41.21 on Tuesday. The stock’s 50 day moving average is $42.38 and its 200 day moving average is $46.47. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a market cap of $26.04 billion, a PE ratio of 7.86, a P/E/G ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the firm earned $1.18 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Research analysts predict that Devon Energy will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Hedge Funds Weigh In On Devon Energy

Several hedge funds have recently bought and sold shares of DVN. Salem Investment Counselors Inc. lifted its holdings in shares of Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after buying an additional 199 shares during the period. Retirement Group LLC lifted its holdings in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after buying an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after buying an additional 209 shares during the period. MCF Advisors LLC lifted its holdings in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after buying an additional 215 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares during the period. Institutional investors 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.