Devon Energy (NYSE:DVN) was upgraded by TheStreet from a “d+” rating to a “c+” rating in a report issued on Tuesday.
A number of other equities analysts have also commented on DVN. Ifs Securities reaffirmed a “market perform” rating on shares of Devon Energy in a research note on Monday, February 11th. Credit Suisse Group set a $36.00 price objective on shares of Devon Energy and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, October 24th. Stephens began coverage on shares of Devon Energy in a research note on Thursday, December 6th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, MKM Partners began coverage on shares of Devon Energy in a research note on Wednesday, December 5th. They issued a “buy” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.95.
Devon Energy stock opened at $30.27 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.69 and a beta of 2.23. Devon Energy has a 1 year low of $20.37 and a 1 year high of $46.54.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 19th. The energy company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $1.97 billion. Devon Energy had a return on equity of 5.41% and a net margin of 24.82%. During the same quarter last year, the firm posted $0.38 EPS. Sell-side analysts predict that Devon Energy will post 1.31 earnings per share for the current year.
Several large investors have recently modified their holdings of DVN. Winslow Evans & Crocker Inc. bought a new position in Devon Energy in the 4th quarter worth $26,000. Lindbrook Capital LLC bought a new position in Devon Energy in the 4th quarter worth $26,000. Duncker Streett & Co. Inc. raised its holdings in Devon Energy by 40.5% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after acquiring an additional 461 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Devon Energy by 2,129.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock worth $57,000 after acquiring an additional 1,217,716 shares during the period. Finally, Quattro Financial Advisors LLC bought a new position in Devon Energy in the 4th quarter worth $65,000. 80.51% of the stock is owned by institutional investors.
About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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