Devon Energy (NYSE:DVN) Stock Rating Upgraded by Argus

Devon Energy (NYSE:DVN) was upgraded by investment analysts at Argus to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on DVN. Siebert Williams Shank reduced their price target on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 13th. UBS Group increased their target price on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Devon Energy in a report on Tuesday. Sanford C. Bernstein upped their price target on shares of Devon Energy from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.89.

Devon Energy Stock Up 1.9%

Shares of DVN stock opened at $37.08 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy has a 12 month low of $25.89 and a 12 month high of $38.88. The stock has a market cap of $23.26 billion, a P/E ratio of 8.31, a P/E/G ratio of 2.49 and a beta of 1.01. The company has a 50 day simple moving average of $34.14 and a two-hundred day simple moving average of $33.68.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter in the previous year, the firm posted $1.10 EPS. On average, research analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Trading of Devon Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in shares of Devon Energy by 9.6% in the first quarter. Assetmark Inc. now owns 9,847 shares of the energy company’s stock worth $368,000 after purchasing an additional 864 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Devon Energy during the 1st quarter valued at approximately $26,000. Vestcor Inc increased its stake in Devon Energy by 7.6% in the 1st quarter. Vestcor Inc now owns 14,053 shares of the energy company’s stock worth $526,000 after acquiring an additional 987 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Devon Energy by 63.2% during the 1st quarter. Natixis Advisors LLC now owns 253,298 shares of the energy company’s stock worth $9,473,000 after acquiring an additional 98,096 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Devon Energy by 6.3% during the 1st quarter. US Bancorp DE now owns 117,743 shares of the energy company’s stock valued at $4,404,000 after acquiring an additional 7,004 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.