Devon Energy (NYSE:DVN) Price Target Raised to $48.00 at Sanford C. Bernstein

Devon Energy (NYSE:DVN) had its target price raised by Sanford C. Bernstein from $43.00 to $48.00 in a report released on Friday,MarketScreener reports. They currently have an outperform rating on the energy company’s stock.

DVN has been the subject of several other reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Devon Energy in a report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Barclays cut their price objective on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. William Blair began coverage on Devon Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley decreased their price target on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $43.89.

Devon Energy Trading Up 1.3%

NYSE DVN opened at $35.63 on Friday. The firm has a market capitalization of $22.35 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. Devon Energy has a one year low of $25.89 and a one year high of $39.65. The company has a 50-day simple moving average of $33.97 and a 200-day simple moving average of $33.53. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. On average, equities analysts forecast that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

Institutional Trading of Devon Energy

A number of hedge funds have recently bought and sold shares of DVN. Opal Wealth Advisors LLC acquired a new stake in Devon Energy during the second quarter worth $25,000. Caldwell Trust Co bought a new position in Devon Energy during the 2nd quarter valued at about $25,000. PFS Partners LLC bought a new stake in Devon Energy during the third quarter worth about $25,000. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy in the first quarter valued at approximately $26,000. Finally, First Horizon Corp bought a new stake in Devon Energy during the 3rd quarter worth approximately $26,000. 69.72% of the stock is owned by institutional investors.

About Devon Energy

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.