Devon Energy (NYSE:DVN) Price Target Raised to $36.00 at Jefferies Financial Group

Devon Energy (NYSE:DVN) had its target price lifted by equities research analysts at Jefferies Financial Group from $33.00 to $36.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a “hold” rating on the energy company’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 4.84% from the stock’s previous close.

Several other research analysts have also commented on the stock. Wells Fargo & Company cut their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Scotiabank lowered Devon Energy from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $47.00 to $41.00 in a research note on Thursday, January 15th. Evercore ISI upped their target price on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research note on Monday, October 6th. Raymond James Financial lifted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada set a $42.00 target price on Devon Energy and gave the company a “sector perform” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Devon Energy Trading Up 4.2%

Shares of NYSE:DVN traded up $1.54 during trading on Tuesday, reaching $37.83. The stock had a trading volume of 1,082,123 shares, compared to its average volume of 10,146,855. The stock has a market cap of $23.73 billion, a P/E ratio of 8.90, a PEG ratio of 3.08 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $38.88. The business has a fifty day moving average price of $36.41 and a 200-day moving average price of $34.73.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter last year, the firm earned $1.10 earnings per share. As a group, analysts anticipate that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Geode Capital Management LLC raised its holdings in Devon Energy by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock worth $589,399,000 after buying an additional 218,034 shares during the period. Victory Capital Management Inc. boosted its stake in Devon Energy by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after purchasing an additional 560,652 shares during the period. Dimensional Fund Advisors LP grew its position in Devon Energy by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock worth $327,938,000 after purchasing an additional 552,068 shares in the last quarter. AQR Capital Management LLC raised its stake in Devon Energy by 29.3% during the 3rd quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock valued at $288,306,000 after purchasing an additional 1,862,720 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Devon Energy by 1.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock valued at $152,188,000 after purchasing an additional 77,433 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.