Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Devon Energy (NYSE:DVN) had its target price increased by Raymond James Financial from $42.00 to $44.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the energy company’s stock. Raymond James Financial’s price target points to a potential upside of 16.76% from the stock’s current price.

A number of other equities analysts have also issued reports on DVN. Susquehanna raised their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. Sanford C. Bernstein lifted their target price on Devon Energy from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Barclays dropped their target price on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Roth Capital began coverage on Devon Energy in a report on Monday, October 13th. They set a “buy” rating and a $42.00 price target for the company. Finally, Capital One Financial dropped their price objective on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Devon Energy Stock Down 0.0%

DVN stock opened at $37.69 on Wednesday. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 2.90 and a beta of 0.62. The company has a fifty day moving average price of $34.37 and a 200 day moving average price of $33.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. Devon Energy has a 12 month low of $25.89 and a 12 month high of $38.88.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the firm posted $1.10 EPS. Sell-side analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Devon Energy by 13.4% in the 3rd quarter. Allworth Financial LP now owns 20,868 shares of the energy company’s stock worth $732,000 after acquiring an additional 2,465 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Devon Energy during the third quarter worth $3,039,000. Tweedy Browne Co LLC grew its holdings in Devon Energy by 105.4% in the third quarter. Tweedy Browne Co LLC now owns 14,189 shares of the energy company’s stock valued at $497,000 after purchasing an additional 7,282 shares during the last quarter. Caerus Investment Advisors LLC purchased a new position in shares of Devon Energy in the third quarter valued at $623,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Devon Energy by 19.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 9,056 shares of the energy company’s stock worth $317,000 after buying an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.