Devon Energy Co. (NYSE:DVN) Short Interest Update

by · The Cerbat Gem

Devon Energy Co. (NYSE:DVN – Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 22,790,000 shares, a growth of 18.7% from the September 15th total of 19,200,000 shares. Based on an average daily trading volume, of 7,250,000 shares, the short-interest ratio is currently 3.1 days. Currently, 3.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds have recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC acquired a new stake in Devon Energy in the 2nd quarter valued at $27,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy in the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy in the 2nd quarter valued at about $34,000. PSI Advisors LLC boosted 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 purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Devon Energy in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 0.7 %

DVN stock traded down $0.30 during mid-day trading on Wednesday, reaching $40.90. The company’s stock had a trading volume of 3,429,476 shares, compared to its average volume of 7,265,475. Devon Energy has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average price is $42.38 and its 200 day moving average price is $46.47. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company earned $1.18 EPS. Devon Energy’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.15%. Devon Energy’s payout ratio is currently 16.79%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays reduced their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI reduced their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets decreased their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, UBS Group dropped their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.58.

View Our Latest Stock Analysis on Devon Energy

About Devon Energy

(Get Free Report)

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.

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