Devon Energy (NYSE:DVN) Upgraded at Benchmark

Devon Energy (NYSE:DVN) was upgraded by research analysts at Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has a $44.00 price target on the energy company’s stock. Benchmark’s target price would suggest a potential upside of 14.43% from the company’s previous close.

Several other equities research analysts also recently issued reports on DVN. Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Barclays cut their price target on shares of 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. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of 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. Finally, Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

Devon Energy Trading Up 3.4 %

NYSE DVN opened at $38.45 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market capitalization of $25.26 billion, a P/E ratio of 7.13, a PEG ratio of 1.07 and a beta of 2.00. The firm’s 50-day moving average is $35.54 and its two-hundred day moving average is $40.42. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09.

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

Institutional Investors Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DVN. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the 3rd quarter worth approximately $39,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the period. 69.72% of the stock is owned by hedge funds and other 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.