Devon Energy (NYSE:DVN)‘s stock had its “hold” rating restated by stock analysts at Sanford C. Bernstein in a report issued on Thursday. They currently have a $35.00 target price on the energy company’s stock, down from their prior target price of $47.00. Sanford C. Bernstein’s price target suggests a potential upside of 13.86% from the stock’s previous close.
DVN has been the subject of a number of other research reports. Stephens raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Thursday, November 2nd. Royal Bank of Canada set a $47.00 price objective on shares of Devon Energy and gave the company a “buy” rating in a research report on Wednesday, December 20th. KLR Group cut shares of Devon Energy from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Tuesday, January 23rd. Wolfe Research upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 30th. Finally, Barclays lifted their target price on shares of Devon Energy from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $47.56.
Shares of Devon Energy (NYSE:DVN) traded up $0.33 during mid-day trading on Thursday, hitting $30.74. 2,926,205 shares of the stock were exchanged, compared to its average volume of 6,585,845. Devon Energy has a 12-month low of $28.79 and a 12-month high of $45.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 1.45. The company has a market cap of $15,980.00, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.22). Devon Energy had a net margin of 10.04% and a return on equity of 6.92%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the firm earned $0.25 EPS. The company’s revenue was up 41.8% on a year-over-year basis. sell-side analysts expect that Devon Energy will post 2.96 earnings per share for the current fiscal year.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now owns 67,900 shares in the company, valued at approximately $2,599,891. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB lifted its stake in Devon Energy by 13.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 49,137 shares of the energy company’s stock worth $2,034,000 after purchasing an additional 5,807 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Devon Energy by 15.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 50,170 shares of the energy company’s stock valued at $2,077,000 after buying an additional 6,743 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Devon Energy by 65.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 24,668 shares of the energy company’s stock valued at $1,021,000 after buying an additional 9,800 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Devon Energy during the 4th quarter valued at about $7,887,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at about $6,732,000. Institutional investors and hedge funds own 76.94% 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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