Devon Energy (DVN) Stock Rating Upgraded by Wolfe Research

Devon Energy (NYSE:DVN) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus set a $68.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Devon Energy from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group set a $50.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. KLR Group downgraded Devon Energy from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Tuesday, January 23rd. Finally, Cowen set a $51.00 price target on Devon Energy and gave the company a “buy” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. Devon Energy presently has an average rating of “Buy” and a consensus price target of $47.13.

Devon Energy (NYSE:DVN) traded down $1.63 during mid-day trading on Tuesday, reaching $41.70. The company’s stock had a trading volume of 2,669,380 shares, compared to its average volume of 4,355,912. The firm has a market cap of $22,770.00, a P/E ratio of 14.15, a P/E/G ratio of 2.49 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. Devon Energy has a fifty-two week low of $28.79 and a fifty-two week high of $47.25.

Devon Energy (NYSE:DVN) last released its quarterly 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 during 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%. The company’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 EPS. equities research analysts expect that Devon Energy will post 1.81 earnings per share for the current year.

In related news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.51% of the company’s stock.

Several large investors have recently bought and sold shares of DVN. Menta Capital LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $310,000. GSA Capital Partners LLP raised its holdings in Devon Energy by 25.9% during the 2nd quarter. GSA Capital Partners LLP now owns 28,401 shares of the energy company’s stock valued at $908,000 after acquiring an additional 5,834 shares during the period. Advisor Group Inc. raised its holdings in Devon Energy by 13.8% during the 2nd quarter. Advisor Group Inc. now owns 27,413 shares of the energy company’s stock valued at $763,000 after acquiring an additional 3,323 shares during the period. Numeric Investors LLC raised its holdings in Devon Energy by 200.0% during the 2nd quarter. Numeric Investors LLC now owns 123,600 shares of the energy company’s stock valued at $3,951,000 after acquiring an additional 82,400 shares during the period. Finally, Stifel Financial Corp raised its holdings in Devon Energy by 100.9% during the 2nd quarter. Stifel Financial Corp now owns 105,856 shares of the energy company’s stock valued at $3,387,000 after acquiring an additional 53,163 shares during the period. 77.63% of the stock is currently owned by 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).