Devon Energy Corp Receives Average Rating of “Buy” from Analysts (NYSE:DVN)
Shares of Devon Energy Corp (NYSE:DVN) have received a consensus recommendation of “Buy” from the thirty-one analysts that are presently covering the company, Analyst Ratings Network reports. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $82.94.
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 Corp (NYSE:DVN) opened at 73.34 on Thursday. Devon Energy Corp has a 1-year low of $56.03 and a 1-year high of $80.63. The stock has a 50-day moving average of $76.72 and a 200-day moving average of $70.52. The company has a market cap of $30.003 billion and a P/E ratio of 18.10.
Devon Energy Corp (NYSE:DVN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.64 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Devon Energy Corp will post $5.73 earnings per share for the current fiscal year.
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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