Devon Energy (NYSE:DVN) Stock Rating Lowered by StockNews.com

Devon Energy (NYSE:DVN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other analysts have also recently issued research reports about the company. Raymond James reduced their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday. Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Mizuho reduced their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. UBS Group reduced their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.80.

Devon Energy Stock Down 2.8 %

DVN traded down $1.13 during trading on Thursday, reaching $38.89. 12,562,063 shares of the stock traded hands, compared to its average volume of 7,428,410. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. Devon Energy has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The stock’s 50-day simple moving average is $40.72 and its two-hundred day simple moving average is $45.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, equities research analysts expect that Devon Energy will post 4.93 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pathstone Holdings LLC lifted its holdings in Devon Energy by 20.6% during the 3rd quarter. Pathstone Holdings LLC now owns 199,218 shares of the energy company’s stock worth $7,797,000 after buying an additional 34,056 shares in the last quarter. Lindenwold Advisors INC lifted its holdings in Devon Energy by 1.6% during the 3rd quarter. Lindenwold Advisors INC now owns 26,730 shares of the energy company’s stock worth $1,046,000 after buying an additional 422 shares in the last quarter. Aviso Wealth Management acquired a new position in Devon Energy during the 3rd quarter worth $560,000. Quest Partners LLC lifted its holdings in Devon Energy by 16.0% during the 3rd quarter. Quest Partners LLC now owns 67,022 shares of the energy company’s stock worth $2,622,000 after buying an additional 9,234 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in Devon Energy by 40.5% during the 3rd quarter. TrinityPoint Wealth LLC now owns 63,966 shares of the energy company’s stock worth $2,502,000 after buying an additional 18,431 shares in the last quarter. 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.