Devon Energy Co. (NYSE:DVN) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Devon Energy Co. (NYSE:DVN - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-two analysts that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $49.45.

A number of research firms have recently issued reports on DVN. Susquehanna cut their price objective on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research report on Friday, January 3rd. Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Finally, Citigroup cut their price objective on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th.

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Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Hurley Capital LLC purchased a new stake in shares of Devon Energy during the 4th quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter worth approximately $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy in the 3rd quarter valued at approximately $39,000. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in Devon Energy in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Up 1.3 %

Shares of DVN stock traded up $0.46 on Friday, reaching $34.68. 9,066,227 shares of the company were exchanged, compared to its average volume of 9,265,842. The company has a market cap of $22.78 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 1.04 and a beta of 1.98. The company has a 50-day moving average of $34.27 and a 200-day moving average of $38.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy has a one year low of $30.39 and a one year high of $55.09.

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.