BMO Capital Markets Lowers Devon Energy (NYSE:DVN) Price Target to $50.00

Devon Energy (NYSE:DVN) had its price target decreased by investment analysts at BMO Capital Markets from $51.00 to $50.00 in a report released on Tuesday,MarketScreener reports. BMO Capital Markets’ price objective would suggest a potential upside of 39.68% from the company’s current price.

A number of other brokerages have also commented on DVN. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. Susquehanna increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a research note on Wednesday. Jefferies Financial Group lifted their target price on shares of Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. Mizuho lowered their target price on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the stock a “sector perform” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Devon Energy Price Performance

Shares of DVN stock traded up $0.76 during trading hours on Tuesday, hitting $35.80. 8,363,042 shares of the company’s stock were exchanged, compared to its average volume of 8,578,549. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy has a 12-month low of $25.89 and a 12-month high of $39.74. The business’s 50 day simple moving average is $33.90 and its 200-day simple moving average is $33.34. The company has a market capitalization of $22.45 billion, a PE ratio of 8.03, a PEG ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same period in the prior year, the business posted $1.10 EPS. On average, equities research analysts anticipate that Devon Energy will post 4.85 earnings per share for the current year.

Hedge Funds Weigh In On Devon Energy

Large investors have recently bought and sold shares of the business. Aprio Wealth Management LLC grew its stake in Devon Energy by 4.1% during the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock worth $264,000 after buying an additional 297 shares during the last quarter. Accredited Wealth Management LLC grew its holdings in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Devon Energy by 2.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock valued at $442,000 after acquiring an additional 318 shares during the period. SVB Wealth LLC raised its stake in Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after acquiring an additional 321 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after acquiring an additional 321 shares during the period. Institutional investors own 69.72% of the company’s stock.

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.