Devon Energy Co. (NYSE:DVN) Given Average Rating of “Moderate Buy” by Analysts

Devon Energy Co. (NYSE:DVN) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $49.45.

Several brokerages have issued reports on DVN. Wells Fargo & Company lowered their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Raymond James increased their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, December 5th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd.

Hedge Funds Weigh In On Devon Energy

Several large investors have recently added to or reduced their stakes in DVN. Pitcairn Co. increased its position in Devon Energy by 29.1% in the fourth quarter. Pitcairn Co. now owns 54,725 shares of the energy company’s stock worth $1,791,000 after buying an additional 12,342 shares during the period. Westpac Banking Corp increased its position in Devon Energy by 165.2% in the fourth quarter. Westpac Banking Corp now owns 16,268 shares of the energy company’s stock worth $532,000 after buying an additional 10,133 shares during the period. Bryce Point Capital LLC acquired a new stake in Devon Energy in the fourth quarter worth $468,000. Huntington National Bank increased its position in Devon Energy by 84.6% in the fourth quarter. Huntington National Bank now owns 4,910 shares of the energy company’s stock worth $161,000 after buying an additional 2,250 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Devon Energy in the fourth quarter worth $150,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 3.3 %

Shares of NYSE:DVN opened at $33.95 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. Devon Energy has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a 50 day moving average of $34.31 and a two-hundred day moving average of $38.75. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98.

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.