Devon Energy (DVN) PT Set at $43.00 by Jefferies Group
Jefferies Group set a $43.00 price objective on Devon Energy (NYSE:DVN) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the energy company’s stock.
DVN has been the topic of a number of other reports. Royal Bank of Canada set a $43.00 price target on shares of Devon Energy and gave the company a buy rating in a report on Friday, February 23rd. Stephens upgraded shares of Devon Energy from an equal weight rating to an overweight rating and set a $53.00 price target on the stock in a report on Thursday, November 2nd. KLR Group cut shares of Devon Energy from a buy rating to a hold rating and set a $49.00 price target on the stock. in a report on Tuesday, January 23rd. Wolfe Research upgraded shares of Devon Energy from a market perform rating to an outperform rating in a report on Tuesday, January 30th. Finally, BMO Capital Markets restated a buy rating and issued a $50.00 price target on shares of Devon Energy in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Devon Energy has an average rating of Buy and an average target price of $47.11.
Devon Energy (DVN) opened at $31.36 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. The company has a market cap of $16,480.00, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.81 and a beta of 2.26. Devon Energy has a 12-month low of $28.79 and a 12-month high of $45.16.
In related news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the sale, the executive vice president now directly owns 67,900 shares in the company, valued at approximately $2,599,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in DVN. Taylor Hoffman Wealth Management purchased a new position in Devon Energy during the 4th quarter worth approximately $102,000. NuWave Investment Management LLC purchased a new position in Devon Energy during the 4th quarter worth approximately $111,000. Advisory Services Network LLC raised its position in Devon Energy by 127.8% during the 4th quarter. Advisory Services Network LLC now owns 3,445 shares of the energy company’s stock worth $143,000 after buying an additional 1,933 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in Devon Energy during the 4th quarter worth approximately $144,000. Finally, Sawyer & Company Inc purchased a new position in Devon Energy during the 4th quarter worth approximately $151,000. Institutional investors own 76.94% of the company’s stock.
Devon Energy 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).
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