Devon Energy (NYSE:DVN) Upgraded to “Hold” at StockNews.com

Devon Energy (NYSE:DVN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

DVN has been the topic of several other research reports. Barclays cut their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. UBS Group dropped their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho dropped their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group began coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.05.

Devon Energy Trading Down 1.3 %

NYSE:DVN opened at $32.16 on Monday. Devon Energy has a 1-year low of $31.85 and a 1-year high of $55.09. The business’s 50-day moving average price is $38.35 and its two-hundred day moving average price is $42.32. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 1.10 and a beta of 1.99.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Devon Energy will post 4.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DVN. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Devon Energy by 5.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,018 shares of the energy company’s stock worth $285,000 after acquiring an additional 335 shares during the period. Western Wealth Management LLC boosted its stake in Devon Energy by 4.3% in the 2nd quarter. Western Wealth Management LLC now owns 8,976 shares of the energy company’s stock valued at $425,000 after purchasing an additional 368 shares during the period. Nisa Investment Advisors LLC boosted its stake in Devon Energy by 59.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 90,101 shares of the energy company’s stock valued at $4,271,000 after purchasing an additional 33,515 shares during the period. Apollon Wealth Management LLC boosted its stake in Devon Energy by 12.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 39,562 shares of the energy company’s stock valued at $1,875,000 after purchasing an additional 4,302 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Devon Energy by 1.4% in the 2nd quarter. Fifth Third Bancorp now owns 22,255 shares of the energy company’s stock valued at $1,055,000 after purchasing an additional 299 shares during the period. 69.72% of the stock is currently owned by institutional investors.

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.