Devon Energy (NYSE:DVN) Upgraded to “Hold” at TD Cowen

Devon Energy (NYSE:DVN) was upgraded by investment analysts at TD Cowen to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on DVN. Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Sanford C. Bernstein lowered their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Argus upgraded shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. Jefferies Financial Group boosted their price objective on shares of Devon Energy from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Finally, Benchmark reissued a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.97.

Devon Energy Stock Down 0.7%

NYSE:DVN opened at $43.51 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The company has a market capitalization of $27.29 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. Devon Energy has a one year low of $25.89 and a one year high of $44.02. The stock has a 50-day simple moving average of $37.70 and a 200 day simple moving average of $35.45.

Institutional Trading of Devon Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baker Avenue Asset Management LP raised its position in Devon Energy by 31.3% during the fourth quarter. Baker Avenue Asset Management LP now owns 76,844 shares of the energy company’s stock valued at $2,815,000 after buying an additional 18,320 shares during the period. Huntington National Bank grew its stake in Devon Energy by 13.3% during the 4th quarter. Huntington National Bank now owns 5,412 shares of the energy company’s stock valued at $198,000 after acquiring an additional 634 shares in the last quarter. Arista Wealth Management LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at about $311,000. Kingsview Wealth Management LLC lifted its position in shares of Devon Energy by 18.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,062 shares of the energy company’s stock worth $771,000 after purchasing an additional 3,272 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Devon Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after purchasing an additional 186,743 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.