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

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

A number of other research firms also recently weighed in on DVN. Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Barclays cut their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. UBS Group dropped their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, BMO Capital Markets dropped 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. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.05.

Devon Energy Stock Down 1.3 %

Shares of NYSE:DVN opened at $32.16 on Monday. The company has a market cap of $21.13 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a 50 day simple moving average of $38.35 and a 200 day simple moving average of $42.32. Devon Energy has a 52 week low of $31.85 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. As a group, research analysts expect that Devon Energy will post 4.79 earnings per share for the current year.

Institutional Trading of Devon Energy

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in Devon Energy by 90.1% in the third quarter. Franklin Resources Inc. now owns 1,363,090 shares of the energy company’s stock valued at $58,435,000 after acquiring an additional 646,045 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Devon Energy by 13.1% in the third quarter. Peapack Gladstone Financial Corp now owns 137,427 shares of the energy company’s stock valued at $5,377,000 after acquiring an additional 15,929 shares during the last quarter. Synovus Financial Corp boosted its holdings in Devon Energy by 67.1% in the third quarter. Synovus Financial Corp now owns 38,097 shares of the energy company’s stock valued at $1,490,000 after acquiring an additional 15,294 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Devon Energy in the third quarter valued at about $1,576,000. Finally, Sfmg LLC boosted its holdings in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

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.