Devon Energy Corp Given Consensus Rating of “Buy” by Brokerages (NYSE:DVN)
Devon Energy Corp (NYSE:DVN) has earned an average recommendation of “Buy” from the thirty-one brokerages that are currently covering the stock, American Banking and Market News reports. Eleven investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $82.94.
Devon Energy Corp (NYSE:DVN) traded up 0.55% on Thursday, hitting $73.03. The stock had a trading volume of 123,350 shares. Devon Energy Corp has a 52-week low of $56.03 and a 52-week high of $80.63. The stock has a 50-day moving average of $77.07 and a 200-day moving average of $70.40. The company has a market cap of $29.877 billion and a P/E ratio of 18.09. Devon Energy Corp also saw unusually large options trading on Tuesday. Stock traders purchased 10,668 put options on the stock. This represents an increase of approximately 533% compared to the typical daily volume of 1,684 put options.
Devon Energy Corp (NYSE:DVN) last released its earnings data on Wednesday, August 6th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.24. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 46.0% on a year-over-year basis. Analysts expect that Devon Energy Corp will post $5.78 EPS for the current fiscal year.
A number of research firms have recently commented on DVN. Analysts at Zacks reiterated a “neutral” rating on shares of Devon Energy Corp in a research note on Thursday, August 7th. They now have a $78.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of Devon Energy Corp from $96.00 to $95.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Devon Energy Corp in a research note on Friday, July 18th. They now have a $87.00 price target on the stock, up previously from $75.00.
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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