Devon Energy (DVN) Price Target Raised to $38.00 at Barclays

Devon Energy (NYSE:DVN) had its price objective lifted by analysts at Barclays from $35.00 to $38.00 in a note issued to investors on Monday, November 20th. The brokerage currently has an “overweight” rating on the energy company’s stock. Barclays’ target price would indicate a potential upside of 2.29% from the company’s current price.

DVN has been the subject of a number of other reports. Morgan Stanley raised their target price on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $38.00 target price on Devon Energy and gave the company a “buy” rating in a report on Monday, August 28th. Royal Bank Of Canada set a $43.00 target price on Devon Energy and gave the company a “buy” rating in a report on Friday, August 25th. Stifel Nicolaus set a $61.00 target price on Devon Energy and gave the company a “buy” rating in a report on Friday, August 25th. Finally, BidaskClub cut Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.56.

Devon Energy (NYSE DVN) traded up $0.27 during midday trading on Monday, reaching $37.15. The company had a trading volume of 2,854,565 shares, compared to its average volume of 4,763,220. Devon Energy has a 1 year low of $28.79 and a 1 year high of $50.69. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market cap of $19,380.00, a P/E ratio of 26.29, a P/E/G ratio of 1.21 and a beta of 2.21.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. research analysts predict that Devon Energy will post 1.77 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Devon Energy by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after buying an additional 1,295,417 shares during the period. State Street Corp increased its position in Devon Energy by 1.0% during the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after buying an additional 265,179 shares during the period. Standard Life Investments LTD increased its position in Devon Energy by 1.3% during the second quarter. Standard Life Investments LTD now owns 6,054,868 shares of the energy company’s stock worth $193,604,000 after buying an additional 75,952 shares during the period. Northern Trust Corp increased its position in Devon Energy by 0.3% during the second quarter. Northern Trust Corp now owns 5,955,294 shares of the energy company’s stock worth $190,390,000 after buying an additional 18,861 shares during the period. Finally, Victory Capital Management Inc. increased its position in Devon Energy by 21.6% during the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after buying an additional 988,090 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Devon Energy (DVN) Price Target Raised to $38.00 at Barclays” was posted by Week Herald and is the sole property of of Week Herald. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://weekherald.com/2017/12/07/devon-energy-corporation-dvn-pt-raised-to-38-00-at-barclays-plc.html.

About Devon Energy

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 (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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply