Devon Energy Corp Given New $89.00 Price Target at Howard Weil (DVN)
Howard Weil lifted their price target on shares of Devon Energy Corp (NYSE:DVN) from $87.00 to $89.00 in a research note issued on Thursday. The firm currently has a “sector outperform” rating on the stock. Howard Weil’s target price would suggest a potential upside of 12.09% from the company’s current price.
DVN has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of Devon Energy Corp from $0.10 to $0.48 in a research note on Monday. They now have an “average” rating on the stock. Separately, analysts at Wed upgraded shares of Devon Energy Corp to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $75.00. Finally, analysts at Citigroup Inc. upgraded shares of Devon Energy Corp from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $21.00. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Devon Energy Corp has a consensus rating of “Buy” and an average target price of $81.40.
Devon Energy Corp (NYSE:DVN) opened at 77.73 on Thursday. Devon Energy Corp has a 1-year low of $54.08 and a 1-year high of $80.63. The stock has a 50-day moving average of $76.49 and a 200-day moving average of $67.71. The company has a market cap of $31.706 billion and a price-to-earnings ratio of 19.52. Devon Energy Corp also was the recipient of a large drop in short interest during the month of June. As of June 13th, there was short interest totalling 6,499,517 shares, a drop of 34.1% from the May 30th total of 9,860,562 shares. Based on an average daily trading volume, of 3,022,962 shares, the short-interest ratio is currently 2.2 days. Approximately 1.7% of the company’s shares are short sold.
Devon Energy Corp (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.26 by $0.12. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 89.0% on a year-over-year basis. On average, analysts predict that Devon Energy Corp will post $5.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, September 10th.
Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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