Devon Energy Corp (DVN) Receiving Somewhat Favorable Press Coverage, Study Finds
News stories about Devon Energy Corp (NYSE:DVN) have been trending somewhat positive this week, AlphaOne Sentiment Analysis reports. AlphaOne, a unit of Accern, ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. AlphaOne ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Devon Energy Corp earned a coverage optimism score of 0.18 on AlphaOne’s scale. AlphaOne also assigned media headlines about the energy company an impact score of 97 out of 100, meaning that recent media coverage is extremely likely to have an effect on the stock’s share price in the near term.
Here are some of the media headlines that may have impacted AlphaOne Sentiment’s analysis:
- Jeff Ritenour Becomes CFO Of Devon Energy (oilandgasinvestor.com)
- BRIEF-Devon Energy promotes Jeff Ritenour to CFO (reuters.com)
- Devon Energy : OKC-based Devon Energy names new CFO (4-traders.com)
- Devon Energy taps Ritenour as new CFO; Mitchell to depart (seekingalpha.com)
- BP Considers Sale of Canadian Oil Sands Assets (finance.yahoo.com)
A number of equities research analysts have issued reports on DVN shares. Scotiabank set a $54.00 price target on Devon Energy Corp and gave the company a “buy” rating in a research note on Monday, March 27th. Zacks Investment Research downgraded Devon Energy Corp from a “buy” rating to a “hold” rating in a research note on Monday, January 16th. Barclays PLC boosted their price target on Devon Energy Corp from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. BMO Capital Markets restated a “buy” rating and set a $50.00 price target on shares of Devon Energy Corp in a research note on Wednesday, March 22nd. Finally, Credit Suisse Group AG restated a “buy” rating and set a $57.00 price target on shares of Devon Energy Corp in a research note on Friday, March 31st. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.29.
Devon Energy Corp (NYSE:DVN) traded up 1.15% on Thursday, reaching $39.70. The company had a trading volume of 3,502,155 shares. The stock’s market capitalization is $20.83 billion. The stock’s 50 day moving average is $41.14 and its 200-day moving average is $43.82. Devon Energy Corp has a 1-year low of $29.60 and a 1-year high of $50.69.
Devon Energy Corp (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 14th. The energy company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. Devon Energy Corp had a positive return on equity of 1.48% and a negative net margin of 69.59%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the business posted $0.77 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corp will post $1.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%. Devon Energy Corp’s payout ratio is -1.28%.
Devon Energy Corp 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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