Jefferies Group LLC upgraded shares of Devon Energy Corporation (NYSE:DVN) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat.com reports. Jefferies Group LLC currently has $43.00 price target on the energy company’s stock. Jefferies Group also issued estimates for Devon Energy Corporation’s Q3 2017 earnings at $0.34 EPS, Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.62 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.41 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.84 EPS and FY2019 earnings at $3.27 EPS.
DVN has been the subject of several other reports. BidaskClub lowered Devon Energy Corporation from a sell rating to a strong sell rating in a research report on Saturday, June 24th. Citigroup Inc. decreased their target price on Devon Energy Corporation from $52.00 to $40.00 and set a buy rating for the company in a research report on Friday, July 21st. Scotiabank set a $47.00 target price on Devon Energy Corporation and gave the stock a buy rating in a research report on Friday, August 11th. BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the stock a buy rating in a research report on Monday, August 28th. Finally, Stifel Nicolaus set a $66.00 target price on Devon Energy Corporation and gave the stock a buy rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $45.31.
Devon Energy Corporation (NYSE:DVN) opened at 36.16 on Monday. Devon Energy Corporation has a one year low of $28.79 and a one year high of $50.69. The firm has a 50 day moving average of $34.14 and a 200 day moving average of $34.81. The firm has a market capitalization of $19.01 billion, a PE ratio of 8.18 and a beta of 2.21.
Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. Equities analysts forecast that Devon Energy Corporation will post $1.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy Corporation’s dividend payout ratio (DPR) is currently 5.47%.
In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company’s stock.
Several institutional investors have recently made changes to their positions in DVN. Fifth Third Bancorp raised its stake in Devon Energy Corporation by 10.4% in the 1st quarter. Fifth Third Bancorp now owns 2,630 shares of the energy company’s stock valued at $110,000 after acquiring an additional 248 shares during the period. Sun Life Financial INC increased its position in Devon Energy Corporation by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares during the period. Global X Management Co. LLC increased its position in Devon Energy Corporation by 34.0% during the 1st quarter. Global X Management Co. LLC now owns 4,036 shares of the energy company’s stock worth $168,000 after buying an additional 1,025 shares during the period. Fiduciary Trust Co. bought a new position in Devon Energy Corporation during the 2nd quarter worth $144,000. Finally, FNY Partners Fund LP increased its position in Devon Energy Corporation by 19,500.0% during the 1st quarter. FNY Partners Fund LP now owns 4,900 shares of the energy company’s stock worth $204,000 after buying an additional 4,875 shares during the period. Institutional investors own 77.04% of the company’s stock.
Devon Energy Corporation Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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