Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Barclays Analyst Says

Devon Energy (NYSE:DVN - Get Free Report) had its price target increased by Barclays from $43.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the energy company's stock. Barclays's price objective would indicate a potential upside of 17.38% from the company's current price.

Other equities research analysts also recently issued reports about the company. Cowen downgraded Devon Energy to a "hold" rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Benchmark upgraded Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 price objective for the company in a report on Tuesday, January 14th. Finally, TD Cowen decreased their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.83.

Devon Energy Trading Down 2.8 %

Shares of Devon Energy stock traded down $1.07 on Thursday, hitting $37.49. The stock had a trading volume of 11,529,242 shares, compared to its average volume of 8,567,562. The stock's 50-day simple moving average is $34.47 and its two-hundred day simple moving average is $38.35. Devon Energy has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, sell-side analysts predict that Devon Energy will post 4.85 EPS for the current year.

Institutional Trading of Devon Energy

A number of hedge funds have recently modified their holdings of DVN. Vanguard Group Inc. raised its holdings in Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Geode Capital Management LLC raised its holdings in shares of Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after acquiring an additional 1,038,305 shares during the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $461,857,000. Pacer Advisors Inc. increased its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. Finally, EnCap Partners GP LLC acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $408,653,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Company Profile

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.