Devon Energy (NYSE:DVN) Earns Hold (C-) Rating from Weiss Ratings

Key Points

• Devon Energy has been given a "hold (C-)" rating by Weiss Ratings, reflecting a cautious stance on the stock.
• Recent price target adjustments include a "buy" rating from Roth Capital with a target of $42.00, while Jefferies and JPMorgan Chase have increased their targets to $33.00 and $42.00, respectively.
• Shares of Devon Energy fell 1.4% to $32.97, with a current consensus rating of "Moderate Buy" and a target price of $43.14 from analysts.

Devon Energy (NYSE:DVN - Get Free Report)'s stock had its "hold (c-)" rating restated by analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other research firms also recently weighed in on DVN. Roth Capital initiated coverage on shares of Devon Energy in a research note on Monday, October 13th. They issued a "buy" rating and a $42.00 price target on the stock. Jefferies Financial Group upped their price target on shares of Devon Energy from $31.00 to $33.00 and gave the stock a "hold" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $45.00 price target (up from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Finally, Mizuho dropped their price target on shares of Devon Energy from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.14.

Devon Energy Stock Down 1.4%

Shares of NYSE DVN traded down $0.47 during mid-day trading on Friday, reaching $32.97. The company had a trading volume of 4,553,755 shares, compared to its average volume of 7,589,347. Devon Energy has a twelve month low of $25.89 and a twelve month high of $40.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market capitalization of $20.93 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.03. The stock's 50 day moving average is $34.43 and its 200-day moving average is $32.99.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business posted $1.41 earnings per share. Devon Energy's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Devon Energy

Large investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in shares of Devon Energy during the 2nd quarter worth about $25,000. Caldwell Trust Co acquired a new position in shares of Devon Energy during the 2nd quarter worth about $25,000. PFS Partners LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth about $25,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Devon Energy during the 1st quarter worth about $26,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy during the 1st quarter worth about $26,000. Institutional investors and hedge funds 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.

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