Research analysts at Credit Suisse Group began coverage on shares of Devon Energy (NYSE:DVN) in a research note issued to investors on Monday, December 11th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $43.00 price target on the energy company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 3.44% from the company’s previous close.
Several other brokerages also recently commented on DVN. Cowen set a $40.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Piper Jaffray Companies lowered their target price on Devon Energy from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Royal Bank of Canada set a $43.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Stephens raised Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a research note on Thursday, November 2nd. Finally, Morgan Stanley boosted their target price on Devon Energy from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Devon Energy has a consensus rating of “Buy” and an average target price of $45.83.
Devon Energy (NYSE DVN) traded up $0.65 on Monday, reaching $41.57. 4,243,618 shares of the company traded hands, compared to its average volume of 4,570,000. Devon Energy has a 1-year low of $28.79 and a 1-year high of $49.45. 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 company has a market capitalization of $21,850.00, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.27 and a beta of 2.21.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of 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 accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC bought a new position in shares of Devon Energy during the 3rd quarter worth approximately $134,000. Sun Life Financial INC boosted its holdings in shares of Devon Energy by 32,058.3% during the 2nd quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock worth $123,000 after buying an additional 3,847 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $144,000. Global X Management Co. LLC boosted its holdings in shares of Devon Energy by 12.5% during the 2nd quarter. Global X Management Co. LLC now owns 4,539 shares of the energy company’s stock worth $145,000 after buying an additional 503 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Devon Energy during the 3rd quarter worth approximately $183,000. 77.43% of the stock is owned by institutional investors and hedge funds.
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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).
