Devon Energy (NYSE:DVN) Price Target Raised to $42.00 at Barclays

Devon Energy (NYSE:DVN) had its target price boosted by investment analysts at Barclays from $40.00 to $42.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Barclays‘s price target indicates a potential upside of 11.02% from the stock’s current price.

DVN has been the subject of several other reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Devon Energy in a research report on Monday, December 29th. Benchmark restated a “buy” rating on shares of Devon Energy in a research note on Friday. Sanford C. Bernstein reduced their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Roth Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Devon Energy in a research note on Wednesday, December 31st. Finally, Citigroup upped their target price on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Devon Energy Price Performance

Shares of NYSE DVN traded up $1.54 during mid-day trading on Wednesday, hitting $37.83. 1,082,123 shares of the company’s stock traded hands, compared to its average volume of 10,146,855. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. Devon Energy has a 1 year low of $25.89 and a 1 year high of $38.88. The company’s 50-day moving average is $36.41 and its two-hundred day moving average is $34.73. The company has a market capitalization of $23.73 billion, a P/E ratio of 8.92, a PEG ratio of 3.08 and a beta of 0.60.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $1.10 earnings per share. On average, equities analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Trading of Devon Energy

Institutional investors have recently modified their holdings of the company. Aprio Wealth Management LLC grew its position in shares of Devon Energy by 4.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock worth $264,000 after buying an additional 297 shares during the last quarter. Accredited Wealth Management LLC boosted its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Lindenwold Advisors INC grew its stake in shares of Devon Energy by 1.2% in the third quarter. Lindenwold Advisors INC now owns 27,094 shares of the energy company’s stock worth $950,000 after acquiring an additional 314 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Devon Energy by 2.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock valued at $442,000 after purchasing an additional 318 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after acquiring an additional 321 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Company Profile

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.