Devon Energy Corp. Price Target Increased to $74.00 by Analysts at Jefferies Group (DVN)
Stock analysts at Jefferies Group boosted their price objective on shares of Devon Energy Corp. (NYSE:DVN) to $74.00 in a report issued on Tuesday, Stock Ratings News reports. Jefferies Group’s target price would suggest a potential upside of 13.29% from the stock’s previous close.
A number of other firms have also recently commented on DVN. Analysts at Iberia Capital initiated coverage on shares of Devon Energy Corp. in a research note to investors on Tuesday. They set a “sector perform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Devon Energy Corp. from $69.00 to $72.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Devon Energy Corp. from $64.00 to $70.00 in a research note to investors on Wednesday, October 16th. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $69.07.
Devon Energy Corp. (NYSE:DVN) traded up 2.04% during mid-day trading on Tuesday, hitting $66.65. The stock had a trading volume of 1,772,375 shares. Devon Energy Corp. has a one year low of $50.81 and a one year high of $66.82. The stock has a 50-day moving average of $59.4 and a 200-day moving average of $56.90. The company’s market cap is $27.060 billion. Devon Energy Corp. also saw unusually large options trading activity on Monday. Traders acquired 18,832 call options on the company. This represents an increase of 176% compared to the average daily volume of 6,814 call options.
Devon Energy Corp. (NYSE:DVN) last released its earnings data on Wednesday, August 7th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts predict that Devon Energy Corp. will post $4.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, December 11th.
Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NYSE:DVN).
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