Devon Energy (NYSE:DVN) Stock Price Down 0.8% – Time to Sell?

Devon Energy Co. (NYSE:DVN) shares were down 0.8% during trading on Tuesday . The stock traded as low as $34.92 and last traded at $35.05. Approximately 1,281,555 shares traded hands during trading, a decline of 87% from the average daily volume of 9,908,402 shares. The stock had previously closed at $35.33.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Mizuho decreased their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Raymond James increased their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Devon Energy Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm’s 50 day simple moving average is $35.00 and its 200 day simple moving average is $39.64. The firm has a market cap of $23.02 billion, a PE ratio of 6.50, a PEG ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $1.65 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.51%. Devon Energy’s dividend payout ratio is 16.33%.

Institutional Trading of Devon Energy

Several institutional investors and hedge funds have recently modified their holdings of DVN. Valmark Advisers Inc. increased its stake in shares of Devon Energy by 96.3% during the fourth quarter. Valmark Advisers Inc. now owns 10,553 shares of the energy company’s stock valued at $345,000 after buying an additional 5,177 shares during the period. MOKAN Wealth Management Inc. acquired a new stake in Devon Energy in the fourth quarter worth about $1,098,000. Palouse Capital Management Inc. lifted its stake in Devon Energy by 1.6% during the 4th quarter. Palouse Capital Management Inc. now owns 76,057 shares of the energy company’s stock valued at $2,489,000 after acquiring an additional 1,191 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Devon Energy during the 4th quarter valued at approximately $671,000. Finally, Allworth Financial LP raised its stake in shares of Devon Energy by 112.3% during the 4th quarter. Allworth Financial LP now owns 12,906 shares of the energy company’s stock valued at $422,000 after buying an additional 6,827 shares during the last quarter. 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.