Devon Energy (NYSE:DVN) PT Lowered to $50.00 at Evercore ISI

by · The Cerbat Gem

Devon Energy (NYSE:DVN – Free Report) had its price target trimmed by Evercore ISI from $55.00 to $50.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an in-line rating on the energy company’s stock.

DVN has been the subject of a number of other research reports. Sanford C. Bernstein decreased their price objective on shares of Devon Energy from $48.00 to $43.00 and set a market perform rating for the company in a research report on Wednesday, July 17th. UBS Group decreased their price objective on shares of Devon Energy from $53.00 to $47.00 and set a neutral rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $57.00 to $55.00 and set an overweight rating for the company in a research report on Wednesday, August 14th. Morgan Stanley decreased their price objective on shares of Devon Energy from $55.00 to $51.00 and set an overweight rating for the company in a research report on Monday, September 16th. Finally, Scotiabank decreased their price objective on shares of Devon Energy from $67.00 to $60.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of Moderate Buy and an average price target of $54.11.

Read Our Latest Stock Analysis on Devon Energy

Devon Energy Price Performance

NYSE:DVN opened at $41.80 on Monday. Devon Energy has a one year low of $37.76 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.22 and a beta of 2.02. The firm’s fifty day moving average is $42.83 and its two-hundred day moving average is $46.90.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Research analysts expect that Devon Energy will post 5.11 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.11%. Devon Energy’s payout ratio is 16.79%.

Institutional Trading of Devon Energy

A number of hedge funds have recently bought and sold shares of the business. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $27,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the 1st quarter valued at approximately $30,000. Jones Financial Companies Lllp grew its stake in shares of Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $34,000. Finally, PSI Advisors LLC grew its stake in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

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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