Mizuho Has Lowered Expectations for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN - Get Free Report) had its price objective decreased by analysts at Mizuho from $46.00 to $43.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the energy company's stock. Mizuho's target price points to a potential upside of 30.02% from the stock's current price.

A number of other equities research analysts have also weighed in on DVN. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Susquehanna dropped their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank decreased their price objective on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Barclays upped their target price on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, Raymond James set a $40.00 price objective on Devon Energy in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Devon Energy Stock Down 1.0%

Shares of NYSE:DVN traded down $0.33 on Tuesday, reaching $33.07. The company had a trading volume of 521,227 shares, compared to its average volume of 9,664,963. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $32.52 and a 200 day moving average price of $34.60. The stock has a market capitalization of $21.24 billion, a P/E ratio of 7.25, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy has a twelve month low of $25.89 and a twelve month high of $50.24.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. On average, equities analysts expect that Devon Energy will post 4.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hurley Capital LLC purchased a new position in shares of Devon Energy in the 4th quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Devon Energy during the 1st quarter valued at approximately $26,000. Banque Cantonale Vaudoise bought a new position in Devon Energy in the 1st quarter valued at $26,000. Accredited Wealth Management LLC bought a new position in shares of Devon Energy during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. raised its stake in Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after buying an additional 405 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

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.