Devon Energy (NYSE:DVN) Trading Down 0.1% – Should You Sell?

Shares of Devon Energy Co. (NYSE:DVN) traded down 0.1% on Monday . The company traded as low as $30.52 and last traded at $30.73. 2,089,446 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 7,759,850 shares. The stock had previously closed at $30.77.

Analysts Set New Price Targets

DVN has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Barclays dropped their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Monday, December 16th. Morgan Stanley cut their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets dropped their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Hold” and an average target price of $50.05.

Devon Energy Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 1.10 and a beta of 1.99. The business’s 50-day moving average is $37.65 and its 200-day moving average is $41.98.

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 analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. 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 company earned $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.85%. Devon Energy’s dividend payout ratio is 16.33%.

Institutional Investors Weigh In On Devon Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP bought a new stake 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 $39,000. True Wealth Design LLC lifted its holdings in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the period. Finally, Activest Wealth Management increased its holdings in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds 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.