Devon Energy Co. (NYSE:DVN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Devon Energy Co. (NYSE:DVN) have received an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $49.45.

A number of research analysts have weighed in on DVN shares. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Susquehanna cut their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th.

Institutional Trading of Devon Energy

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in shares of Devon Energy by 19.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 42,698 shares of the energy company’s stock valued at $1,398,000 after buying an additional 6,987 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Devon Energy by 12.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 12,116 shares of the energy company’s stock worth $397,000 after purchasing an additional 1,339 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new position in shares of Devon Energy during the 4th quarter worth about $394,000. Argentarii LLC acquired a new stake in Devon Energy in the fourth quarter worth $242,000. Finally, Jackson Hole Capital Partners LLC raised its stake in Devon Energy by 241.3% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 23,109 shares of the energy company’s stock worth $756,000 after buying an additional 16,338 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $33.13 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 6.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. Devon Energy has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a 50 day moving average of $34.47 and a 200 day moving average of $39.05.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.65 earnings per share. On average, sell-side analysts predict that Devon Energy will post 4.68 earnings per share for the current fiscal year.

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.