Northland Securities assumed coverage on shares of Devon Energy (NYSE:DVN) in a research note published on Monday morning, Benzinga reports. The brokerage issued an outperform rating and a $15.00 price objective on the energy company’s stock.

DVN has been the topic of a number of other research reports. Wells Fargo & Company upped their price target on Devon Energy from $16.00 to $17.00 and gave the company an overweight rating in a research report on Thursday, June 25th. UBS Group upped their price target on Devon Energy from $14.00 to $19.00 and gave the company a buy rating in a research report on Monday, June 29th. Raymond James dropped their price target on Devon Energy from $15.00 to $14.00 and set an outperform rating on the stock in a research report on Monday, July 20th. Credit Suisse Group reaffirmed a buy rating on shares of Devon Energy in a research report on Friday, August 28th. Finally, JPMorgan Chase & Co. cut Devon Energy from an overweight rating to a neutral rating and dropped their price objective for the stock from $15.00 to $13.00 in a report on Thursday, July 23rd. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $17.00.

DVN stock opened at $9.95 on Monday. The stock’s fifty day simple moving average is $10.84 and its two-hundred day simple moving average is $10.89. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.28. Devon Energy has a 1-year low of $4.70 and a 1-year high of $27.02. The stock has a market cap of $3.81 billion, a P/E ratio of -1.24 and a beta of 3.26.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Devon Energy had a positive return on equity of 4.29% and a negative net margin of 51.02%. The firm had revenue of $394.00 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down 78.2% compared to the same quarter last year. As a group, analysts forecast that Devon Energy will post -0.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Friday, December 11th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.42%. Devon Energy’s dividend payout ratio (DPR) is presently 31.88%.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Devon Energy by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 47,357,479 shares of the energy company’s stock valued at $537,033,000 after purchasing an additional 1,857,571 shares during the last quarter. BlackRock Inc. grew its position in Devon Energy by 6.5% during the 1st quarter. BlackRock Inc. now owns 31,773,581 shares of the energy company’s stock worth $219,557,000 after acquiring an additional 1,930,409 shares during the last quarter. Invesco Ltd. grew its position in Devon Energy by 14.3% during the 1st quarter. Invesco Ltd. now owns 27,933,596 shares of the energy company’s stock worth $193,021,000 after acquiring an additional 3,485,907 shares during the last quarter. State Street Corp grew its position in Devon Energy by 13.0% during the 1st quarter. State Street Corp now owns 24,499,871 shares of the energy company’s stock worth $169,294,000 after acquiring an additional 2,811,799 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Devon Energy by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 8,746,222 shares of the energy company’s stock worth $60,436,000 after acquiring an additional 179,417 shares during the last quarter. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Analyst Recommendations for Devon Energy (NYSE:DVN)

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