Devon Energy Corp (NYSE:DVN) Plans Quarterly Dividend of $0.09

Devon Energy Corp (NYSE:DVN) declared a quarterly dividend on Thursday, December 5th, Wall Street Journal reports. Investors of record on Friday, March 13th will be given a dividend of 0.09 per share by the energy company on Tuesday, March 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 12th.

DVN stock traded up $0.85 during trading on Friday, hitting $22.92. The company had a trading volume of 181,477 shares, compared to its average volume of 7,063,034. The stock has a market cap of $8.41 billion, a PE ratio of 17.75, a PEG ratio of 1.83 and a beta of 2.37. The business has a 50-day moving average of $21.76 and a 200-day moving average of $24.41. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.66. Devon Energy has a one year low of $19.72 and a one year high of $35.39.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.37%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company earned $0.63 EPS. Research analysts forecast that Devon Energy will post 1.26 EPS for the current year.

In related news, CAO Jeremy D. Humphers sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $22.01, for a total transaction of $33,015.00. Following the transaction, the chief accounting officer now directly owns 43,975 shares of the company’s stock, valued at approximately $967,889.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

DVN has been the subject of a number of analyst reports. Wells Fargo & Co lifted their target price on shares of Devon Energy from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Seaport Global Securities lowered Devon Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Guggenheim set a $35.00 price objective on Devon Energy and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Mitsubishi UFJ Financial Group upped their target price on Devon Energy to $36.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Devon Energy currently has a consensus rating of “Hold” and an average price target of $35.32.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Dividend History for Devon Energy (NYSE:DVN)

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