Devon Energy (NYSE:DVN) has been given a $51.00 target price by stock analysts at Cowen in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the energy company’s stock. Cowen’s price objective points to a potential upside of 19.02% from the stock’s previous close.
A number of other analysts also recently issued reports on DVN. Stifel Nicolaus set a $66.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Jefferies Group raised Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Monday, October 9th. BMO Capital Markets set a $45.00 target price on Devon Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Morgan Stanley lifted their target price on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Stephens raised Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Devon Energy presently has a consensus rating of “Buy” and a consensus price target of $46.50.
Devon Energy (DVN) traded down $0.35 during trading hours on Thursday, hitting $42.85. The company had a trading volume of 5,596,031 shares, compared to its average volume of 4,480,000. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $22,520.00, a P/E ratio of 14.57, a P/E/G ratio of 2.52 and a beta of 2.21. Devon Energy has a twelve month low of $28.79 and a twelve month high of $47.82.
Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. Devon Energy’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. research analysts anticipate that Devon Energy will post 1.79 EPS for the current year.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the transaction, the executive vice president now owns 67,900 shares of the company’s stock, valued at $2,599,891. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DVN. Sun Life Financial INC increased its position in Devon Energy by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Devon Energy during the third quarter worth approximately $134,000. Sawyer & Company Inc acquired a new position in Devon Energy during the fourth quarter worth approximately $151,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in Devon Energy by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after buying an additional 2,300 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Devon Energy during the third quarter worth approximately $183,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.
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Devon Energy 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).