Devon Energy Corporation (DVN:NYE) recently announced its quarterly dividend payment and several insider transactions. Devon Energy stock has been affected by the changes in its institutional holdings and insider trading activity.
During the third quarter, River & Mercantile Asset Management LLP decreased its stake in Devon Energy by 3.7% according to the Securities and Exchange Commission (SEC) filings. River & Mercantile Asset Management LLP sold 2,470 shares and owned 64,633 shares in Devon Energy stock worth $3,892,000. Other institutional investors, including AlphaCrest Capital Management LLC, Acadian Asset Management LLC, Blair William & Co. IL, Sei Investments Co., and Canada Pension Plan Investment Board have also modified their holdings of DVN.
DVN Stock-Insider Transactions:
Devon Energy’s CEO, Richard E. Muncrief, made several insider transactions by purchasing 10,000 shares of the company’s stock at an average price of $53.28 per share on February 17th, with a total transaction of $532,800. Following the acquisition, the chief executive officer now owns 1,973,977 shares in the company valued at approximately $105,173,494.56.
Additionally, the Director, John E. Bethancourt, purchased 3,765 shares of the stock at an average price of $53.06 per share on February 17th, with a total transaction of $199,770.90. Following the acquisition, the director now owns 94,669 shares of Devon Energy stock, valued at approximately $5,023,137.14.
Devon Energy Stock Analysis:
DVN stock has a fifty-two-week low of $48.31 and a fifty-two-week high of $79.40. The company has a market cap of $32.19 billion, a PE ratio of 5.40, a PEG ratio of 0.14, and a beta of 2.33. The firm’s fifty-day moving average price is $59.50 and its two-hundred-day moving average price is $64.73.
Based on the Devon Energy Corporation stock forecasts from 25 analysts, the average analyst target price for Devon Energy Corporation is USD 77.65 over the next 12 months. Devon Energy Corporation’s average analyst rating is Strong Buy.
Stock Target Advisor’s own stock analysis of Devon Energy Corporation is Neutral, which is based on 8 positive signals and 7 negative signals. At the last closing, Devon Energy Corporation’s stock price was USD 49.22. Devon Energy Corporation’s stock price has changed by -10.56% over the past week, -23.02% over the past month, and -6.59% over the last year.
Quarterly Earnings Review:
On February 15th, Devon Energy reported its earnings results for the quarter, which showed $1.66 EPS, missing the consensus estimate of $1.75 by $0.09. The company’s revenue for the quarter was $4.30 billion, compared to the consensus estimate of $4.29 billion.
The net margin was 31.38% and the return on equity was 52.20%. Devon Energy’s revenue for the quarter was up 0.6% compared to the same quarter last year.
Devon Energy Stock Dividend:
Devon Energy recently declared a quarterly dividend payment. Investors of record on Wednesday, March 15th will be issued a $0.89 dividend, representing a yield of 9.3%.
This is an increase from Devon Energy’s previous None dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 14th. Devon Energy’s dividend payout ratio is presently 8.77%.
Devon Energy Stock-Analyst Ratings:
Several brokerages have recently commented on DVN. Morgan Stanley reduced their price objective on shares of DVN stock from $67.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. Wall Street analysts forecast that Devon Energy will post 7.04 EPS for the current fiscal year.
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States.
It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.