Devon Energy (DVN) – Research Analysts’ Weekly Ratings Updates

Devon Energy (NYSE: DVN) recently received a number of ratings updates from brokerages and research firms:

  • 2/5/2018 – Devon Energy is now covered by analysts at B. Riley. They set a “neutral” rating and a $50.00 price target on the stock.
  • 2/2/2018 – Devon Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “Devon Energy’s shares have returned higher than the industry in the last six months. Devon’s diversified portfolio, focus on high margin production zones, cost savings and divestment of non-core assets are boosting its performance. Thanks to solid oil production and performance of its domestic oil plays, the company is well poised to deliver a significant increase in U.S. oil production in 2018 from 2017 levels. However, the highly competitive nature of the oil and gas industry has always been a headwind and limited control over some properties controlled by third parties could have an adverse impact on Devon’s performance.”
  • 1/30/2018 – Devon Energy had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $52.00 price target on the stock.
  • 1/30/2018 – Devon Energy was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
  • 1/30/2018 – Devon Energy was given a new $68.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 1/24/2018 – Devon Energy had its price target raised by analysts at Morgan Stanley from $48.00 to $54.00. They now have an “overweight” rating on the stock.
  • 1/23/2018 – Devon Energy was given a new $50.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/23/2018 – Devon Energy was downgraded by analysts at KLR Group from a “buy” rating to a “hold” rating. They now have a $49.00 price target on the stock.
  • 1/18/2018 – Devon Energy was given a new $51.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 1/10/2018 – Devon Energy was downgraded by analysts at Capital One Financial Corp. from an “overweight” rating to an “equal weight” rating.
  • 1/9/2018 – Devon Energy had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $42.00 price target on the stock.
  • 12/24/2017 – Devon Energy had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $39.00 price target on the stock.
  • 12/20/2017 – Devon Energy was given a new $47.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 12/20/2017 – Devon Energy was given a new $46.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 12/19/2017 – Devon Energy was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating.

Shares of Devon Energy Corp (NYSE:DVN) opened at $35.81 on Monday. Devon Energy Corp has a 12-month low of $28.79 and a 12-month high of $47.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $18,220.00, a P/E ratio of 12.18, a PEG ratio of 1.68 and a beta of 2.10.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.67%. Devon Energy’s dividend payout ratio (DPR) is currently 8.16%.

In related news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.

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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