Devon Energy Corporation (DVN) PT Set at $66.00 by Stifel Nicolaus
Devon Energy Corporation (NYSE:DVN) has been assigned a $66.00 price target by Stifel Nicolaus in a note issued to investors on Thursday. The firm currently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 81.57% from the company’s previous close.
DVN has been the subject of a number of other research reports. BidaskClub downgraded shares of Devon Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Citigroup Inc. cut their target price on shares of Devon Energy Corporation from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Scotiabank set a $47.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 11th. BMO Capital Markets set a $38.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, Royal Bank Of Canada set a $43.00 price target on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.29.
Shares of Devon Energy Corporation (DVN) traded down 1.692% during mid-day trading on Thursday, hitting $35.735. 1,215,652 shares of the stock traded hands. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69. The stock has a 50-day moving average of $33.37 and a 200-day moving average of $34.94. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 8.085 and a beta of 2.21.
Devon Energy Corporation (NYSE:DVN) last released its earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 31.6% compared to the same quarter last year. Analysts anticipate that Devon Energy Corporation will post $1.73 EPS for the current year.
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In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the sale, the director now directly owns 11,338 shares of the company’s stock, valued at approximately $378,122.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Thompson Investment Management Inc. boosted its holdings in Devon Energy Corporation by 36.1% in the 4th quarter. Thompson Investment Management Inc. now owns 102,737 shares of the energy company’s stock valued at $3,287,000 after purchasing an additional 27,278 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft bought a new stake in Devon Energy Corporation in the 3rd quarter valued at $18,294,000. Asset Management Advisors LLC boosted its holdings in Devon Energy Corporation by 34.4% in the 4th quarter. Asset Management Advisors LLC now owns 87,455 shares of the energy company’s stock valued at $2,799,000 after purchasing an additional 22,395 shares during the period. California State Teachers Retirement System boosted its holdings in Devon Energy Corporation by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 786,057 shares of the energy company’s stock valued at $25,154,000 after purchasing an additional 12,377 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Devon Energy Corporation by 1.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 91,720 shares of the energy company’s stock valued at $2,935,000 after purchasing an additional 1,000 shares during the period. 77.00% of the stock is owned by hedge funds and other institutional investors.
Devon Energy Corporation Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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