A number of other research firms have also issued reports on DVN. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the company a “sector perform” rating in a research note on Friday, October 10th. Morgan Stanley dropped their price target on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Wells Fargo & Company reduced their price objective on Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Sanford C. Bernstein boosted their target price on shares of Devon Energy from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, Evercore ISI increased their price target on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.86.
Read Our Latest Analysis on Devon Energy
Devon Energy Trading Up 1.4%
Devon Energy stock opened at $37.78 on Wednesday. Devon Energy has a one year low of $25.89 and a one year high of $38.88. The company’s fifty day moving average price is $34.28 and its two-hundred day moving average price is $33.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.92 and a beta of 0.62.
Devon Energy (NYSE:DVN – Get Free Report) last posted its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company earned $1.10 EPS. On average, analysts forecast that Devon Energy will post 4.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Devon Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DVN. AQR Capital Management LLC increased its holdings in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after buying an additional 2,252,918 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 2.6% in the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after buying an additional 2,098,568 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Devon Energy by 83.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after buying an additional 2,083,600 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Devon Energy during the 1st quarter worth about $69,975,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.
Devon Energy Company Profile
(
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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