Analysts Set Devon Energy Co. (NYSE:DVN) PT at $52.53

Shares of Devon Energy Co. (NYSE:DVN) have earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $52.53.

A number of analysts recently issued reports on DVN shares. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Evercore ISI cut their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. BMO Capital Markets decreased their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. UBS Group lowered their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, 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 price target on the stock.

Devon Energy Stock Up 2.2 %

Devon Energy stock opened at $39.15 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $24.52 billion, a P/E ratio of 7.11, a P/E/G ratio of 1.19 and a beta of 2.03. The firm has a 50 day moving average price of $41.04 and a 200-day moving average price of $45.24. Devon Energy has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. As a group, equities analysts predict that Devon Energy will post 4.93 EPS for the current year.

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Devon Energy during the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy during the second quarter valued at approximately $34,000. PSI Advisors LLC increased its stake in shares of Devon Energy by 66.7% during the second 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. LRI Investments LLC bought a new position in shares of Devon Energy during the first quarter valued at approximately $39,000. Finally, Manchester Capital Management LLC lifted its stake in Devon Energy by 40.9% in the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock worth $43,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors 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.