Devon Energy Co. (NYSE:DVN – Get Free Report)’s share price rose 0.6% during trading on Wednesday after Piper Sandler raised their price target on the stock from $53.00 to $54.00. Piper Sandler currently has an overweight rating on the stock. Devon Energy traded as high as $35.03 and last traded at $35.08. Approximately 1,226,406 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 9,740,031 shares. The stock had previously closed at $34.88.
Other equities research analysts also recently issued reports about the stock. TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Scotiabank lowered their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup decreased their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Jefferies Financial Group started coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.45.
Hedge Funds Weigh In On Devon Energy
Devon Energy Trading Down 0.1 %
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 $23.02 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The business’s 50-day moving average price is $35.00 and its two-hundred day moving average price is $39.64.
Devon Energy (NYSE:DVN – Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $1.65 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current year.
Devon Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.
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.
Featured Stories
- Five stocks we like better than Devon Energy
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- How Growth Investors Find High-Growth Stocks and Maximize Returns
- 3 Best Fintech Stocks for a Portfolio Boost
- Meta’s AI & Smart Glasses Could Drive 20%+ Upside in 2025
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- NVIDIA’s Slide Continues: Can Retail Investors Stop the Fall?
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.