News stories about Devon Energy Corporation (NYSE:DVN) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Devon Energy Corporation earned a news sentiment score of 0.25 on Accern’s scale. Accern also assigned news stories about the energy company an impact score of 79 out of 100, meaning that recent news coverage is likely to have an effect on the company’s share price in the next few days.
These are some of the news stories that may have impacted Accern Sentiment’s rankings:
- Devon Energy Corporation (NYSE:DVN) Experiences Lighter than Usual Trading Volume – First News 24 (firstnewspaper24.com)
- The Technical Condition Changes For Devon Energy Corporation (DVN), Cousins Properties Incorporated (CUZ) – AllStockNews (allstocknews.com)
- Devon Energy Corporation (NYSE:DVN) Cut to Sell at Zacks Investment Research (americanbankingnews.com)
- Devon Energy Corporation (NYSE:DVN) Lowered to Strong Sell at BidaskClub (campdesrecrues.com)
- The Devon Energy Corporation (DVN) Position Reduced by Cpcm LLC (healthcaremenu.net)
Devon Energy Corporation (NYSE DVN) traded up 0.61% during midday trading on Tuesday, reaching $31.54. 453,755 shares of the company’s stock traded hands. Devon Energy Corporation has a 1-year low of $28.79 and a 1-year high of $50.69. The firm’s 50-day moving average is $33.89 and its 200-day moving average is $40.97. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 53.55 and a beta of 2.16.
Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Devon Energy Corporation had a net margin of 2.34% and a return on equity of 4.25%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $2.98 billion. Analysts forecast that Devon Energy Corporation will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.24 annualized dividend and a yield of 0.77%. Devon Energy Corporation’s dividend payout ratio is currently 43.64%.
Several equities research analysts have issued reports on the company. Credit Suisse Group increased their price target on Devon Energy Corporation from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. BMO Capital Markets reiterated a “buy” rating and set a $42.00 target price on shares of Devon Energy Corporation in a research note on Thursday, June 22nd. Scotiabank set a $49.00 price objective on Devon Energy Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Devon Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Piper Jaffray Companies initiated coverage on Devon Energy Corporation in a research report on Monday. They issued a “neutral” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Devon Energy Corporation has a consensus rating of “Buy” and an average target price of $49.05.
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In other Devon Energy Corporation news, Director Robert A. Mosbacher, Jr. sold 800 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $39.18, for a total value of $31,344.00. Following the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $913,207.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company’s stock.
Devon Energy Corporation 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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