Piper Jaffray Companies set a $39.00 price objective on Devon Energy (NYSE:DVN) in a research note released on Friday morning, TipRanks reports. The firm currently has a buy rating on the energy company’s stock. Piper Jaffray Companies also issued estimates for Devon Energy’s Q3 2020 earnings at $0.79 EPS and Q4 2020 earnings at $0.80 EPS.

DVN has been the topic of a number of other research reports. Barclays reaffirmed a hold rating and set a $36.00 price objective on shares of Devon Energy in a report on Thursday, April 11th. Zacks Investment Research lowered Devon Energy from a buy rating to a hold rating in a report on Tuesday, April 2nd. ValuEngine lowered Devon Energy from a hold rating to a sell rating in a report on Wednesday, May 1st. Macquarie set a $40.00 price objective on Devon Energy and gave the stock a buy rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada set a $42.00 price objective on Devon Energy and gave the stock a hold rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $44.45.

Devon Energy stock opened at $25.16 on Friday. Devon Energy has a 12 month low of $20.37 and a 12 month high of $46.54. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $10.71 billion, a PE ratio of 19.50, a P/E/G ratio of 0.77 and a beta of 2.23.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. Devon Energy had a return on equity of 7.12% and a net margin of 29.33%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Devon Energy will post 2 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in Devon Energy by 105.9% during the 3rd quarter. Morgan Stanley now owns 2,521,826 shares of the energy company’s stock valued at $100,722,000 after acquiring an additional 1,296,801 shares during the period. Royal London Asset Management Ltd. lifted its position in Devon Energy by 4.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 217,771 shares of the energy company’s stock valued at $4,891,000 after acquiring an additional 9,972 shares during the period. Exane Derivatives purchased a new position in Devon Energy during the 4th quarter valued at about $1,431,000. Crossmark Global Holdings Inc. lifted its position in Devon Energy by 193.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 90,734 shares of the energy company’s stock valued at $2,045,000 after acquiring an additional 59,765 shares during the period. Finally, First Mercantile Trust Co. lifted its position in Devon Energy by 20.3% during the 4th quarter. First Mercantile Trust Co. now owns 19,300 shares of the energy company’s stock valued at $436,000 after acquiring an additional 3,260 shares during the period. 84.40% of the stock is currently owned by institutional investors.

Devon Energy Company Profile

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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