By otakuyassine3@gmail.com 
Devon Energy (NYSE:DVN – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
DVN has been the subject of a number of other research reports. Truist Financial cut shares of Devon Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $49.00 to $43.00 in a report on Thursday, November 7th. Scotiabank lowered 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 research report on Thursday, October 10th. Susquehanna reduced their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Finally, Mizuho lowered their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.05.
Check Out Our Latest Report on DVN
Devon Energy Trading Down 0.4 %
DVN opened at $31.11 on Wednesday. The stock has a market capitalization of $20.44 billion, a PE ratio of 5.77, a PEG ratio of 1.10 and a beta of 1.99. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $41.61. Devon Energy has a 1-year low of $30.39 and a 1-year high of $55.09.
Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company earned $1.65 EPS. Devon Energy’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy will post 4.79 earnings per share for the current fiscal year.
Institutional Trading of Devon Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Solutions Wealth Management LLC boosted its holdings in Devon Energy by 38.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 13,781 shares of the energy company’s stock worth $539,000 after purchasing an additional 3,797 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Devon Energy by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company’s stock worth $28,635,000 after purchasing an additional 7,487 shares during the period. IMS Capital Management grew its position in shares of Devon Energy by 49.3% during the 3rd quarter. IMS Capital Management now owns 18,660 shares of the energy company’s stock valued at $730,000 after acquiring an additional 6,165 shares during the period. Franklin Resources Inc. increased its stake in shares of Devon Energy by 90.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,363,090 shares of the energy company’s stock worth $58,435,000 after purchasing an additional 646,045 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of Devon Energy by 13.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 137,427 shares of the energy company’s stock worth $5,377,000 after purchasing an additional 15,929 shares during the period. 69.72% of the stock is owned by institutional investors.
About Devon Energy
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.
Read More
Receive News & Ratings for Devon Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Devon Energy and related companies with MarketBeat.com’s FREE daily email newsletter.