Devon Energy (NYSE:DVN) Upgraded at TD Cowen

TD Cowen upgraded shares of Devon Energy (NYSE:DVN) to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Scotiabank upped their price target on shares of Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. The Goldman Sachs Group lifted their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Citigroup boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. dropped their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Finally, Mizuho set a $51.00 price objective on Devon Energy in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.24.

Devon Energy Stock Up 3.5%

Shares of Devon Energy stock opened at $44.98 on Monday. 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 1-year low of $25.89 and a 1-year high of $45.02. The business’s fifty day moving average price is $37.97 and its two-hundred day moving average price is $35.59. The company has a market capitalization of $28.22 billion, a P/E ratio of 10.58, a PEG ratio of 3.80 and a beta of 0.61.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co grew its holdings in shares of Devon Energy by 108.7% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 15,746 shares of the energy company’s stock worth $577,000 after purchasing an additional 8,200 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Devon Energy by 15.4% during the fourth quarter. Empowered Funds LLC now owns 646,534 shares of the energy company’s stock worth $23,683,000 after buying an additional 86,468 shares in the last quarter. Inceptionr LLC bought a new position in Devon Energy in the 4th quarter valued at $640,000. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Devon Energy by 14.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,755 shares of the energy company’s stock valued at $394,000 after buying an additional 1,369 shares during the last quarter. Finally, M Holdings Securities Inc. acquired a new position in shares of Devon Energy during the fourth quarter worth approximately $608,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Raymond James raised its price target to $52 and kept an “outperform” rating, signaling analyst confidence and giving upside to the stock. Raymond James raises PT to $52
• Positive Sentiment: Short interest fell ~12.6% in January to ~19.33M shares (about 3.1% of float), reducing near-term short-pressure and lowering a potential headwind from squeezes; days-to-cover is ~2.1. (Data summary provided in filings/market reports.)
• Neutral Sentiment: TD Cowen moved DVN to a “hold” rating — not bearish, but less enthusiastic than a buy — so this is unlikely to strongly change sentiment alone. TD Cowen upgrade to hold
• Neutral Sentiment: Devon is drawing investor attention on Zacks (higher user interest), which can increase volume/volatility into earnings but does not itself change fundamentals. Zacks: Devon attracting attention
• Neutral Sentiment: Reminder: Devon is scheduled to report Q4 earnings on Feb. 17, a predictable near-term catalyst that investors are positioning for. Earnings date reminder
• Negative Sentiment: Multiple previews (Zacks) show consensus expectations for a weaker Q4: EPS consensus ~$0.86 (down about 25.9% Y/Y) and revenue/earnings pressures — raising risk of a disappointment on the print. Zacks Q4 earnings preview (Feb 11) Zacks earnings preview (Feb 10)

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.