Devon Energy Corporation (NYSE:DVN) has been given a $38.00 price target by BMO Capital Markets in a report released on Monday. The brokerage presently has a “buy” rating on the energy company’s stock. BMO Capital Markets’ target price indicates a potential upside of 22.62% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Barclays PLC restated an “overweight” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Devon Energy Corporation in a research note on Wednesday, August 9th. Seaport Global Securities downgraded shares of Devon Energy Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $51.00 to $28.00 in a research note on Wednesday, June 21st. Credit Suisse Group upped their price objective on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Scotiabank set a $57.00 price objective on shares of Devon Energy Corporation and gave the company a “buy” rating in a research note on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $38.00 price objective on shares of Devon Energy Corporation in a research note on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $45.95.

Shares of Devon Energy Corporation (NYSE:DVN) opened at 30.99 on Monday. The firm has a 50-day moving average price of $31.66 and a 200 day moving average price of $36.76. The company has a market capitalization of $16.29 billion, a P/E ratio of 7.01 and a beta of 2.17. Devon Energy Corporation has a 12-month low of $28.79 and a 12-month high of $50.69.

Devon Energy Corporation (NYSE:DVN) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. Devon Energy Corporation’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, equities research analysts predict that Devon Energy Corporation will post $1.75 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Devon Energy Corporation (DVN) Given a $38.00 Price Target by BMO Capital Markets Analysts” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.watchlistnews.com/devon-energy-corporation-dvn-given-a-38-00-price-target-by-bmo-capital-markets-analysts/1530559.html.

In related news, Director Robert H. Henry sold 7,045 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now directly owns 11,338 shares of the company’s stock, valued at $378,122.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its position in Devon Energy Corporation by 22.4% in the second quarter. Achmea Investment Management B.V. now owns 50,424 shares of the energy company’s stock valued at $1,611,000 after buying an additional 9,221 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Devon Energy Corporation by 10.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,561,234 shares of the energy company’s stock valued at $49,913,000 after buying an additional 143,851 shares in the last quarter. Sentry Investment Management LLC boosted its position in Devon Energy Corporation by 174.7% in the second quarter. Sentry Investment Management LLC now owns 40,927 shares of the energy company’s stock valued at $1,308,000 after buying an additional 26,028 shares in the last quarter. Toronto Dominion Bank boosted its position in Devon Energy Corporation by 24.7% in the second quarter. Toronto Dominion Bank now owns 185,353 shares of the energy company’s stock valued at $5,925,000 after buying an additional 36,768 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Devon Energy Corporation by 16.6% in the second quarter. EP Wealth Advisors LLC now owns 195,199 shares of the energy company’s stock valued at $6,241,000 after buying an additional 27,741 shares in the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Corporation Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

Analyst Recommendations for Devon Energy Corporation (NYSE:DVN)

Receive News & Ratings for Devon Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.