Devon Energy (NYSE:DVN)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a note issued to investors on Tuesday, The Fly reports. They currently have a $30.00 price target on the energy company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 17.74% from the stock’s current price.
Several other research analysts have also recently weighed in on DVN. Siebert Williams Shank initiated coverage on Devon Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target for the company. ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Morgan Stanley lowered their target price on Devon Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. upgraded Devon Energy from a “neutral” rating to an “overweight” rating and set a $34.00 target price on the stock in a report on Tuesday, December 10th. Finally, Barclays raised Devon Energy from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Devon Energy currently has a consensus rating of “Buy” and an average target price of $33.81.
Shares of NYSE:DVN traded down $0.37 during mid-day trading on Tuesday, reaching $25.48. 185,002 shares of the company traded hands, compared to its average volume of 4,794,865. Devon Energy has a 52 week low of $19.72 and a 52 week high of $35.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market cap of $9.74 billion, a PE ratio of 7.98, a PEG ratio of 1.11 and a beta of 2.42. The company’s 50 day moving average price is $24.95 and its 200-day moving average price is $23.95.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.57 billion. Devon Energy had a return on equity of 6.37% and a net margin of 16.00%. During the same period in the prior year, the company posted $0.63 EPS. On average, research analysts predict that Devon Energy will post 1.34 earnings per share for the current fiscal year.
In related news, CAO Jeremy D. Humphers sold 1,500 shares of the business’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 sale, the chief accounting officer now owns 43,975 shares of the company’s stock, valued at $967,889.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in DVN. Schroder Investment Management Group grew its position in Devon Energy by 40.3% during the 2nd quarter. Schroder Investment Management Group now owns 524,764 shares of the energy company’s stock worth $14,966,000 after purchasing an additional 150,854 shares in the last quarter. Renaissance Technologies LLC grew its position in Devon Energy by 116.5% during the 2nd quarter. Renaissance Technologies LLC now owns 250,900 shares of the energy company’s stock worth $7,156,000 after purchasing an additional 135,000 shares in the last quarter. HighTower Advisors LLC grew its position in Devon Energy by 24.6% during the 2nd quarter. HighTower Advisors LLC now owns 34,860 shares of the energy company’s stock worth $1,006,000 after purchasing an additional 6,875 shares in the last quarter. US Bancorp DE grew its position in Devon Energy by 14.7% during the 2nd quarter. US Bancorp DE now owns 45,699 shares of the energy company’s stock worth $1,302,000 after purchasing an additional 5,853 shares in the last quarter. Finally, Assetmark Inc. grew its position in Devon Energy by 72.3% during the 2nd quarter. Assetmark Inc. now owns 3,075 shares of the energy company’s stock worth $88,000 after purchasing an additional 1,290 shares in the last quarter. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
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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