Media stories about Devon Energy (NYSE:DVN) have trended somewhat positive on Sunday, Accern Sentiment reports. The research firm identifies positive and negative press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Devon Energy earned a news impact score of 0.16 on Accern’s scale. Accern also gave news coverage about the energy company an impact score of 47.7786098114666 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Devon Energy Corp (DVN) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- Devon (DVN) Divests Non-Core Assets in Barnett for $533M – Nasdaq (nasdaq.com)
- Devon Energy (DVN) Given a $37.00 Price Target at B. Riley (americanbankingnews.com)
- UPDATE: Shell, Blackstone Reportedly Eyeing $10 Billion Bid For BHP US Shale Assets – E&P (epmag.com)
Devon Energy (NYSE:DVN) traded up $0.33 during trading on Friday, hitting $32.72. 9,086,552 shares of the stock traded hands, compared to its average volume of 9,060,000. Devon Energy has a twelve month low of $28.79 and a twelve month high of $45.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $17,190.00, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.04 and a beta of 2.26.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.22). Devon Energy had a net margin of 10.04% and a return on equity of 6.92%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the company earned $0.25 EPS. The business’s quarterly revenue was up 41.8% on a year-over-year basis. research analysts forecast that Devon Energy will post 2.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a $0.08 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Devon Energy’s dividend payout ratio is 13.95%.
Devon Energy declared that its board has authorized a share buyback program on Wednesday, March 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the energy company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
DVN has been the subject of several research analyst reports. Barclays restated a “buy” rating and set a $39.00 price target on shares of Devon Energy in a research report on Sunday, December 24th. Royal Bank of Canada set a $47.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Jefferies Group set a $46.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Seaport Global Securities upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Citigroup restated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Devon Energy has an average rating of “Buy” and an average price target of $45.79.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the transaction, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.51% of the company’s stock.
Devon Energy 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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