Devon Energy (NYSE:DVN) Raised to Hold at StockNews.com

Devon Energy (NYSE:DVN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

DVN has been the subject of several other reports. BMO Capital Markets decreased their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Scotiabank decreased their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, UBS Group dropped their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $49.81.

Devon Energy Trading Up 1.6 %

Shares of NYSE DVN opened at $33.93 on Friday. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a market capitalization of $22.29 billion, a P/E ratio of 6.30, a P/E/G ratio of 1.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50 day simple moving average is $35.97 and its 200 day simple moving average is $41.01.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Devon Energy will post 4.79 EPS for the current year.

Institutional Investors Weigh In On Devon Energy

Large investors have recently made changes to their positions in the stock. First National Trust Co grew its position in shares of Devon Energy by 20.9% in the 2nd quarter. First National Trust Co now owns 8,615 shares of the energy company’s stock valued at $408,000 after acquiring an additional 1,488 shares during the period. Simon Quick Advisors LLC increased its position in Devon Energy by 8.7% during the second quarter. Simon Quick Advisors LLC now owns 5,112 shares of the energy company’s stock worth $242,000 after buying an additional 410 shares during the last quarter. National Bank of Canada FI raised its stake in Devon Energy by 447.6% in the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after buying an additional 964,147 shares during the period. Altus Wealth Group LLC lifted its position in shares of Devon Energy by 12.1% in the second quarter. Altus Wealth Group LLC now owns 8,998 shares of the energy company’s stock valued at $427,000 after buying an additional 970 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Devon Energy by 6.3% during the 2nd quarter. Private Advisor Group LLC now owns 83,609 shares of the energy company’s stock worth $3,963,000 after acquiring an additional 4,975 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Company Profile

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.