Siebert Williams Shank Boosts Devon Energy (NYSE:DVN) Price Target to $50.00

Devon Energy (NYSE:DVN) had its price target boosted by Siebert Williams Shank from $46.00 to $50.00 in a report released on Monday,MarketScreener reports. The firm presently has a “buy” rating on the energy company’s stock. Siebert Williams Shank’s target price would indicate a potential upside of 26.67% from the company’s current price.

Several other analysts also recently commented on DVN. Evercore ISI raised their price objective on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research note on Monday, October 6th. BMO Capital Markets dropped their price target on Devon Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Sanford C. Bernstein decreased their price objective on Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Morgan Stanley lowered their target price on Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Royal Bank Of Canada set a $42.00 price target on shares of Devon Energy and gave the company a “sector perform” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.76.

Devon Energy Stock Up 2.2%

Devon Energy stock opened at $39.47 on Monday. The firm has a market capitalization of $24.76 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 3.64 and a beta of 0.60. The company’s 50 day simple moving average is $36.72 and its 200 day simple moving average is $34.88. 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 fifty-two week low of $25.89 and a fifty-two week high of $39.57.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter in the prior year, the firm earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Devon Energy will post 4.85 EPS for the current year.

Institutional Trading of Devon Energy

A number of institutional investors have recently bought and sold shares of the business. Evergreen Capital Management LLC grew its position in shares of Devon Energy by 76.2% during the 4th quarter. Evergreen Capital Management LLC now owns 11,368 shares of the energy company’s stock worth $416,000 after purchasing an additional 4,915 shares in the last quarter. DSG Capital Advisors LLC grew its position in Devon Energy by 350.5% during the fourth quarter. DSG Capital Advisors LLC now owns 31,083 shares of the energy company’s stock worth $1,129,000 after buying an additional 24,183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Devon Energy by 95.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 793,194 shares of the energy company’s stock worth $29,055,000 after acquiring an additional 387,654 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Devon Energy by 3.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,846 shares of the energy company’s stock valued at $1,020,000 after acquiring an additional 837 shares in the last quarter. Finally, Greatmark Investment Partners Inc. raised its holdings in Devon Energy by 2.9% in the 4th quarter. Greatmark Investment Partners Inc. now owns 588,575 shares of the energy company’s stock valued at $21,560,000 after acquiring an additional 16,650 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.