Devon Energy (NYSE:DVN) PT Raised to $19.00

Devon Energy (NYSE:DVN) had its price objective upped by stock analysts at UBS Group from $14.00 to $19.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the energy company’s stock. UBS Group’s target price points to a potential upside of 67.55% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Wells Fargo & Co lifted their price target on Devon Energy from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Barclays lifted their price target on Devon Energy from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Susquehanna Bancshares boosted their target price on Devon Energy from $12.00 to $13.00 in a research report on Wednesday, May 6th. Raymond James boosted their target price on Devon Energy from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Bank of America boosted their target price on Devon Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $19.90.

Shares of DVN opened at $11.34 on Monday. The company has a market cap of $4.19 billion, a PE ratio of -2.24 and a beta of 3.34. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $12.48 and a 200-day moving average price of $16.06. Devon Energy has a 12-month low of $4.70 and a 12-month high of $29.36.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.31. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.47 billion. Devon Energy had a positive return on equity of 7.81% and a negative net margin of 24.91%. The company’s revenue for the quarter was up 93.4% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. As a group, analysts predict that Devon Energy will post -0.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. CSat Investment Advisory L.P. increased its stake in shares of Devon Energy by 26.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,587 shares of the energy company’s stock valued at $67,000 after buying an additional 546 shares during the period. American International Group Inc. increased its stake in shares of Devon Energy by 0.6% during the first quarter. American International Group Inc. now owns 169,393 shares of the energy company’s stock valued at $1,171,000 after buying an additional 1,014 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Devon Energy by 0.7% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 155,403 shares of the energy company’s stock valued at $1,074,000 after buying an additional 1,154 shares during the period. Focused Wealth Management Inc increased its stake in shares of Devon Energy by 23.4% during the first quarter. Focused Wealth Management Inc now owns 6,426 shares of the energy company’s stock valued at $44,000 after buying an additional 1,220 shares during the period. Finally, Brave Asset Management Inc. increased its stake in shares of Devon Energy by 8.4% during the first quarter. Brave Asset Management Inc. now owns 16,705 shares of the energy company’s stock valued at $115,000 after buying an additional 1,300 shares during the period. 81.83% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Analyst Recommendations for Devon Energy (NYSE:DVN)

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