Devon Energy (NYSE:DVN) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other analysts have also weighed in on the stock. Morgan Stanley set a $33.00 price objective on shares of Devon Energy and gave the company a “hold” rating in a research note on Tuesday, January 29th. Capital One Financial lowered shares of Devon Energy from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. MKM Partners raised their price objective on shares of Devon Energy from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. Zacks Investment Research lowered shares of Devon Energy from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Finally, Mizuho set a $31.00 price objective on shares of Devon Energy and gave the company a “hold” rating in a research note on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.48.

NYSE:DVN opened at $29.64 on Friday. The stock has a market cap of $12.99 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.76 and a beta of 2.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.99 and a quick ratio of 1.99. Devon Energy has a fifty-two week low of $20.37 and a fifty-two week high of $46.54.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 19th. The energy company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.21). The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $1.97 billion. Devon Energy had a net margin of 24.82% and a return on equity of 5.73%. During the same quarter in the prior year, the business posted $0.38 earnings per share. Equities research analysts expect that Devon Energy will post 1.23 earnings per share for the current year.

In related news, Director Robert H. Henry purchased 11,651 shares of Devon Energy stock in a transaction dated Wednesday, February 27th. The stock was purchased at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the completion of the purchase, the director now directly owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

Several hedge funds have recently made changes to their positions in DVN. Norges Bank bought a new stake in shares of Devon Energy in the fourth quarter worth approximately $109,799,000. American Century Companies Inc. grew its position in Devon Energy by 31.0% during the fourth quarter. American Century Companies Inc. now owns 6,641,322 shares of the energy company’s stock valued at $149,695,000 after buying an additional 1,571,861 shares during the period. Morgan Stanley grew its position in Devon Energy by 105.9% during the third quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock valued at $100,722,000 after buying an additional 1,296,801 shares during the period. Oregon Public Employees Retirement Fund grew its position in Devon Energy by 2,129.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock valued at $57,000 after buying an additional 1,217,716 shares during the period. Finally, Clearbridge Investments LLC grew its position in Devon Energy by 57.3% during the third quarter. Clearbridge Investments LLC now owns 3,195,598 shares of the energy company’s stock valued at $127,632,000 after buying an additional 1,164,365 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Analyst Recommendations for Devon Energy (NYSE:DVN)

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