Devon Energy Corporation’s (DVN) Hold Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reiterated their hold rating on shares of Devon Energy Corporation (NYSE:DVN) in a research note issued to investors on Friday morning. They currently have a $38.00 price objective on the energy company’s stock.
Other research analysts have also issued research reports about the company. BMO Capital Markets set a $38.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Monday, August 28th. Stifel Nicolaus set a $61.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Friday, August 25th. Royal Bank Of Canada set a $43.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Friday, August 25th. Cowen Inc restated a buy rating and set a $37.00 target price on shares of Devon Energy Corporation in a research report on Tuesday, August 22nd. Finally, Scotiabank set a $49.00 target price on Devon Energy Corporation and gave the company a buy rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $46.17.
Devon Energy Corporation (NYSE:DVN) opened at $38.03 on Friday. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69. The stock has a market capitalization of $19,944.75, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.
Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Devon Energy Corporation had a return on equity of 6.88% and a net margin of 11.62%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. equities research analysts forecast that Devon Energy Corporation will post 1.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. Devon Energy Corporation’s payout ratio is 8.19%.
Several hedge funds and other institutional investors have recently made changes to their positions in DVN. Sun Life Financial INC boosted its holdings in shares of Devon Energy Corporation by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,847 shares during the period. FNY Managed Accounts LLC purchased a new stake in Devon Energy Corporation during the third quarter worth $134,000. Fiduciary Trust Co. purchased a new stake in Devon Energy Corporation during the second quarter worth $144,000. Global X Management Co. LLC lifted its holdings in Devon Energy Corporation by 12.5% during the second quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after buying an additional 503 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in Devon Energy Corporation by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 77.13% of the company’s stock.
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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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