Devon Energy (NYSE:DVN) Sets New 12-Month Low at $19.73

Shares of Devon Energy Corp (NYSE:DVN) reached a new 52-week low on Monday . The stock traded as low as $19.73 and last traded at $19.90, with a volume of 46406 shares traded. The stock had previously closed at $19.80.

Several research analysts have weighed in on DVN shares. Seaport Global Securities cut Devon Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Guggenheim set a $35.00 price objective on Devon Energy and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Co boosted their price objective on Devon Energy from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Morgan Stanley cut their price objective on Devon Energy from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Finally, SunTrust Banks started coverage on Devon Energy in a research report on Tuesday, July 30th. They issued a “buy” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Devon Energy has a consensus rating of “Hold” and a consensus price target of $36.19.

The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $23.34 and a 200 day moving average price of $26.83. The stock has a market cap of $8.24 billion, a PE ratio of 15.58, a PEG ratio of 1.21 and a beta of 2.35.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Devon Energy had a return on equity of 8.42% and a net margin of 39.80%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corp will post 1.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.79%. Devon Energy’s dividend payout ratio is presently 27.91%.

In other news, CAO Jeremy D. Humphers sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total transaction of $32,490.00. Following the transaction, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at approximately $920,008.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in DVN. OLD Point Trust & Financial Services N A increased its stake in Devon Energy by 3.0% in the 2nd quarter. OLD Point Trust & Financial Services N A now owns 34,100 shares of the energy company’s stock worth $972,000 after acquiring an additional 1,000 shares during the last quarter. DNB Asset Management AS boosted its holdings in Devon Energy by 67.3% during the 2nd quarter. DNB Asset Management AS now owns 102,059 shares of the energy company’s stock valued at $2,911,000 after acquiring an additional 41,043 shares during the period. O Keefe Stevens Advisory Inc. lifted its holdings in Devon Energy by 4.3% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 55,285 shares of the energy company’s stock worth $1,577,000 after buying an additional 2,266 shares during the period. Zions Bancorporation N.A. lifted its holdings in Devon Energy by 6.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock worth $209,000 after buying an additional 440 shares during the period. Finally, Foundation Resource Management Inc. lifted its stake in shares of Devon Energy by 2.5% in the 2nd quarter. Foundation Resource Management Inc. now owns 63,573 shares of the energy company’s stock valued at $1,813,000 after purchasing an additional 1,539 shares during the period. Institutional investors own 85.85% of the company’s stock.

Devon Energy Company Profile (NYSE:DVN)

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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