Devon Energy (NYSE:DVN) has been assigned a $51.00 target price by analysts at Cowen in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the energy company’s stock. Cowen’s target price indicates a potential upside of 19.02% from the company’s current price.
Several other research firms have also commented on DVN. Piper Jaffray Companies reissued a “hold” rating and set a $42.00 price objective on shares of Devon Energy in a research note on Tuesday, January 9th. Capital One Financial lowered shares of Devon Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 10th. Barclays reissued a “buy” rating and set a $39.00 price objective on shares of Devon Energy in a research note on Sunday, December 24th. Royal Bank of Canada set a $47.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Jefferies Group set a $46.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Two 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of $46.50.
Shares of Devon Energy (NYSE DVN) opened at $42.85 on Thursday. The firm has a market cap of $22,520.00, a PE ratio of 14.57, a PEG ratio of 2.52 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. 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 quarterly earnings data on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Devon Energy’s quarterly revenue was up 9.5% on a year-over-year basis. sell-side analysts forecast that Devon Energy will post 1.79 earnings per share for the current fiscal year.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy 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 transaction, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at $2,599,891. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Sawyer & Company Inc purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $151,000. FNY Managed Accounts LLC purchased a new position in shares of Devon Energy during the third quarter valued at approximately $134,000. Sun Life Financial INC raised its holdings in shares of Devon Energy by 32,058.3% during the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,847 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Devon Energy during the third quarter valued at approximately $183,000. Finally, Haverford Trust Co. purchased a new position in shares of Devon Energy during the third quarter valued at approximately $207,000. 77.49% of the stock is owned by institutional investors and hedge funds.
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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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