Devon Energy (NYSE:DVN) Price Target Raised to $40.00 at Barclays

Devon Energy (NYSE:DVN - Get Free Report) had its price objective hoisted by equities research analysts at Barclays from $38.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the energy company's stock. Barclays's target price suggests a potential upside of 30.28% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. UBS Group cut their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Mizuho cut their price target on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Citigroup dropped their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $43.96.

Devon Energy Price Performance

Shares of DVN stock opened at $30.70 on Wednesday. The company has a market capitalization of $19.75 billion, a PE ratio of 6.73, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm's 50-day moving average is $32.75 and its two-hundred day moving average is $34.89. Devon Energy has a 12 month low of $25.89 and a 12 month high of $51.28.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. Analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Trading of Devon Energy

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. bought a new position in Devon Energy in the fourth quarter valued at approximately $154,170,000. Fuller & Thaler Asset Management Inc. increased its holdings in Devon Energy by 42.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after acquiring an additional 3,090,585 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after acquiring an additional 2,335,473 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Company Profile

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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