Devon Energy (NYSE:DVN) Shares Down 1.3% – Should You Sell?

Devon Energy Co. (NYSE:DVN)’s share price was down 1.3% on Tuesday . The stock traded as low as $38.05 and last traded at $38.25. Approximately 1,091,434 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 7,400,000 shares. The stock had previously closed at $38.77.

Wall Street Analyst Weigh In

Several equities analysts have commented on DVN shares. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research note on Tuesday, September 3rd. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Morgan Stanley dropped their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Up 1.0 %

The company has a market cap of $25.16 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The firm’s 50-day moving average price is $39.96 and its 200-day moving average price is $44.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.72 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Devon Energy Co. will post 4.81 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Triad Wealth Partners LLC bought a new position in shares of Devon Energy in the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC increased its stake in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. LRI Investments LLC acquired a new position in Devon Energy during the 1st quarter valued at about $39,000. Finally, Capital Performance Advisors LLP acquired a new position in Devon Energy during the 3rd quarter valued at about $35,000. 69.72% of the stock is currently 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.