Devon Energy (NYSE:DVN) Price Target Lowered to $46.00 at Barclays

Devon Energy (NYSE:DVN) had its price objective decreased by analysts at Barclays from $55.00 to $46.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Barclays‘s price objective points to a potential upside of 8.46% from the company’s current price.

Other analysts have also issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group decreased their target price 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. Sanford C. Bernstein decreased their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Evercore ISI decreased their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.79.

Devon Energy Stock Up 1.5 %

Shares of NYSE:DVN opened at $42.41 on Thursday. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 1.22 and a beta of 2.02. 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 business’s 50-day moving average is $42.74 and its 200-day moving average is $46.87. Devon Energy has a 1 year low of $37.76 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company posted $1.18 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that Devon Energy will post 5.11 earnings per share for the current year.

Hedge Funds Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new position in Devon Energy in the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC purchased a new position in Devon Energy in the first quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its stake in Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Devon Energy in the second quarter valued at approximately $34,000. Finally, PSI Advisors LLC lifted its stake in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

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.