UBS Group Issues Pessimistic Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its target price decreased by UBS Group from $41.00 to $35.00 in a report issued on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the energy company’s stock.

Other equities research analysts have also recently issued research reports about the company. Susquehanna raised their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

Devon Energy Trading Down 2.6 %

NYSE:DVN opened at $28.55 on Monday. Devon Energy has a 52 week low of $27.14 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm’s fifty day moving average is $35.08 and its 200-day moving average is $36.58. The firm has a market cap of $18.53 billion, a P/E ratio of 6.26, a P/E/G ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.36%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Hedge Funds Weigh In On Devon Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Sfmg LLC raised its position in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after acquiring an additional 294 shares during the period. Redwood Wealth Management Group LLC grew its stake in Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares in the last quarter. Annex Advisory Services LLC raised its holdings in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after acquiring an additional 327 shares during the period. Finally, Independence Bank of Kentucky lifted its position in shares of Devon Energy by 7.8% during the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company’s stock worth $150,000 after acquiring an additional 330 shares in the last quarter. Hedge funds and other 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.