Devon Energy (NYSE:DVN) Trading Down 1.6% – Should You Sell?

Devon Energy Co. (NYSE:DVN)’s share price fell 1.6% during trading on Friday . The company traded as low as $35.77 and last traded at $35.88. 1,340,818 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 10,085,156 shares. The stock had previously closed at $36.45.

Analysts Set New Price Targets

Several research firms recently weighed in on DVN. Susquehanna decreased their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. TD Cowen lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 1.21 and a beta of 2.00. The business has a 50-day moving average price of $35.27 and a 200-day moving average price of $39.90.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the business posted $1.65 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. William B. Walkup & Associates Inc. acquired a new stake in Devon Energy during the second quarter valued at $1,026,000. Bridgewater Associates LP purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $9,426,000. Legacy Investment Solutions LLC acquired a new position in Devon Energy in the 3rd quarter worth about $8,002,000. Petrus Trust Company LTA boosted its position in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares during the period. Hedge funds and other 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.