Devon Energy Corp (NYSE:DVN) has received a “BBB” credit rating from analysts at Morningstar. The firm’s “BBB” rating indicates that the company is a moderate default risk. They also gave their stock a five star rating.

A number of other equities research analysts also recently weighed in on DVN. Nomura decreased their target price on Devon Energy Corp from $49.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, January 21st. Guggenheim raised Devon Energy Corp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.62 to $57.00 in a research report on Thursday, November 12th. Mitsubishi UFJ Financial Group Inc reissued an “underweight” rating on shares of Devon Energy Corp in a research report on Tuesday, December 8th. RBC Capital reissued a “buy” rating on shares of Devon Energy Corp in a research report on Thursday, December 10th. Finally, Citigroup Inc. assumed coverage on Devon Energy Corp in a research report on Tuesday, January 26th. They set a “buy” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Devon Energy Corp presently has a consensus rating of “Buy” and an average price target of $58.62.

Devon Energy Corp (NYSE:DVN) opened at 27.90 on Friday. Devon Energy Corp has a 52 week low of $19.69 and a 52 week high of $70.48. The firm’s market capitalization is $11.47 billion. The company has a 50-day moving average of $28.42 and a 200-day moving average of $40.37.

Devon Energy Corp (NYSE:DVN) last issued its earnings results on Tuesday, November 3rd. The energy company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.24. The company earned $3.60 billion during the quarter, compared to analyst estimates of $3.98 billion. The business’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. On average, equities analysts forecast that Devon Energy Corp will post $2.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 11th. This represents a $0.96 dividend on an annualized basis and a yield of 3.44%.

In related news, Director Barbara M. Baumann bought 8,200 shares of the business’s stock in a transaction on Wednesday, January 6th. The shares were purchased at an average price of $30.44 per share, for a total transaction of $249,608.00. Following the completion of the transaction, the director now directly owns 21,320 shares of the company’s stock, valued at approximately $648,980.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Several institutional investors have added to or reduced their stakes in DVN. Janus Capital Management increased its position in Devon Energy Corp by 780.4% in the third quarter. Janus Capital Management now owns 142,331 shares of the energy company’s stock valued at $5,279,000 after buying an additional 126,164 shares during the last quarter. ING Groep increased its position in Devon Energy Corp by 34.6% in the third quarter. ING Groep now owns 419,299 shares of the energy company’s stock valued at $15,552,000 after buying an additional 107,824 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft acquired a new position in Devon Energy Corp during the third quarter valued at about $18,294,000. Finally, Eagle Asset Management increased its position in Devon Energy Corp by 89.1% in the third quarter. Eagle Asset Management now owns 1,352,342 shares of the energy company’s stock valued at $50,158,000 after buying an additional 637,352 shares during the last quarter.

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Company’s projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLink’s operations consist of midstream assets and operations located across the United States. In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

12 Month Chart for NYSE:DVN

To view more credit ratings from Morningstar, visit www.jdoqocy.comclick-7674909-10651170.

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