Devon Energy (NYSE:DVN)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday, January 9th. They presently have a $42.00 price target on the energy company’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 1.98% from the stock’s current price.
Several other brokerages also recently issued reports on DVN. Cowen set a $40.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Stephens raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Thursday, November 2nd. Morgan Stanley raised their price objective on shares of Devon Energy from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Scotiabank set a $50.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a research note on Saturday, November 25th. Finally, Credit Suisse Group began coverage on shares of Devon Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Devon Energy presently has an average rating of “Buy” and an average price target of $46.50.
Devon Energy (NYSE DVN) opened at $42.85 on Tuesday. 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 cap of $22,520.00, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.50 and a beta of 2.21. Devon Energy has a 52-week low of $28.79 and a 52-week high of $47.82.
Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.89 EPS. research analysts predict that Devon Energy will post 1.79 earnings per share for the current fiscal year.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the sale, the executive vice president now owns 67,900 shares in the company, valued at $2,599,891. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue increased its holdings in Devon Energy by 166.9% during the 4th quarter. State of Alaska Department of Revenue now owns 49,130 shares of the energy company’s stock valued at $2,033,000 after acquiring an additional 30,720 shares in the last quarter. Endurance Wealth Management Inc. increased its holdings in Devon Energy by 11.6% during the 4th quarter. Endurance Wealth Management Inc. now owns 79,889 shares of the energy company’s stock valued at $3,307,000 after acquiring an additional 8,275 shares in the last quarter. Westpac Banking Corp increased its holdings in Devon Energy by 27.3% during the 4th quarter. Westpac Banking Corp now owns 100,784 shares of the energy company’s stock valued at $4,172,000 after acquiring an additional 21,590 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Devon Energy by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,020,205 shares of the energy company’s stock valued at $83,637,000 after acquiring an additional 63,958 shares in the last quarter. Finally, National Pension Service increased its holdings in Devon Energy by 11.6% during the 4th quarter. National Pension Service now owns 531,256 shares of the energy company’s stock valued at $21,994,000 after acquiring an additional 55,035 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.
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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).
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