Devon Energy Co. (NYSE:DVN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Devon Energy Co. (NYSE:DVNGet Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-two analysts that are covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $52.53.

DVN has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Benchmark reissued a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Morgan Stanley dropped their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Finally, Susquehanna dropped their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th.

View Our Latest Stock Report on DVN

Devon Energy Trading Up 2.2 %

NYSE:DVN opened at $39.15 on Thursday. The company has a market cap of $24.52 billion, a PE ratio of 7.11, a P/E/G ratio of 1.19 and a beta of 2.03. The business’s 50 day moving average is $41.04 and its two-hundred day moving average is $45.24. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVNGet 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 business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the business posted $1.18 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Devon Energy will post 4.93 EPS for the current year.

Institutional Trading of Devon Energy

Several large investors have recently modified their holdings of DVN. WCM Investment Management LLC raised its stake in Devon Energy by 318.3% during the third quarter. WCM Investment Management LLC now owns 19,488 shares of the energy company’s stock worth $759,000 after acquiring an additional 14,829 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in Devon Energy during the 3rd quarter worth approximately $592,000. Versor Investments LP bought a new position in Devon Energy in the 3rd quarter valued at approximately $1,048,000. Ashton Thomas Securities LLC acquired a new stake in Devon Energy in the third quarter valued at approximately $103,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Devon Energy by 91.4% during the third quarter. Crossmark Global Holdings Inc. now owns 45,196 shares of the energy company’s stock worth $1,768,000 after buying an additional 21,584 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

About Devon Energy

(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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