Devon Energy (NYSE:DVN - Get Free Report) had its price target upped by equities researchers at Scotiabank from $35.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "sector outperform" rating on the energy company's stock. Scotiabank's price target indicates a potential upside of 17.04% from the stock's previous close.
A number of other analysts have also recently commented on DVN. Raymond James Financial set a $40.00 target price on shares of Devon Energy in a report on Monday, April 21st. Susquehanna lowered their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. UBS Group lowered their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Mizuho decreased their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.71.
Read Our Latest Stock Analysis on DVN
Devon Energy Price Performance
DVN traded up $0.23 on Friday, reaching $34.18. The company had a trading volume of 1,726,059 shares, compared to its average volume of 9,274,305. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 2.59 and a beta of 1.02. Devon Energy has a 52-week low of $25.89 and a 52-week high of $49.35. The business has a 50 day simple moving average of $32.64 and a 200 day simple moving average of $33.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08.
Devon Energy (NYSE:DVN - Get Free Report) last issued its 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 firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, sell-side analysts anticipate that Devon Energy will post 4.85 EPS for the current year.
Institutional Trading of Devon Energy
Several hedge funds and other institutional investors have recently bought and sold shares of DVN. Assetmark Inc. raised its holdings in Devon Energy by 7.6% during the 4th quarter. Assetmark Inc. now owns 8,983 shares of the energy company's stock valued at $294,000 after buying an additional 635 shares during the period. Proficio Capital Partners LLC purchased a new stake in Devon Energy during the 4th quarter valued at $4,411,000. Citizens Financial Group Inc. RI raised its holdings in Devon Energy by 12.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 12,116 shares of the energy company's stock valued at $397,000 after buying an additional 1,339 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Devon Energy by 19.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 42,698 shares of the energy company's stock valued at $1,398,000 after buying an additional 6,987 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Devon Energy by 4.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 17,954 shares of the energy company's stock valued at $588,000 after buying an additional 721 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.
About Devon Energy
(
Get Free Report)
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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