Devon Energy (DVN) – Research Analysts’ Weekly Ratings Updates

Devon Energy (NYSE: DVN) has recently received a number of price target changes and ratings updates:

  • 3/19/2018 – Devon Energy was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Devon’s diversified portfolio, focus on high margin production zones, cost savings and divestment of non-core assets are boosting its performance. Thanks to solid oil production and the performance of its domestic oil plays, the company is well poised to deliver a significant increase in U.S. oil production in 2018 from 2017 levels.  However, the highly competitive nature of the oil and gas industry has always been a headwind and limited control over some properties controlled by third parties could have an adverse impact on Devon’s performance. In the last year, Devon Energy’s shares have declined more than the industry it belongs to.”
  • 3/19/2018 – Devon Energy was given a new $41.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 3/14/2018 – Devon Energy had its price target lowered by analysts at JPMorgan Chase & Co. from $47.00 to $42.00. They now have an “overweight” rating on the stock.
  • 3/14/2018 – Devon Energy was given a new $44.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 3/9/2018 – Devon Energy was given a new $37.00 price target on by analysts at B. Riley. They now have a “hold” rating on the stock.
  • 3/7/2018 – Devon Energy is now covered by analysts at UBS. They set a “neutral” rating and a $35.00 price target on the stock.
  • 3/1/2018 – Devon Energy was given a new $43.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 2/27/2018 – Devon Energy had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $50.00 price target on the stock.
  • 2/23/2018 – Devon Energy was given a new $43.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 2/23/2018 – Devon Energy was upgraded by analysts at KLR Group from a “hold” rating to a “buy” rating. They now have a $49.00 price target on the stock.
  • 2/22/2018 – Devon Energy had its “hold” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $35.00 price target on the stock, down previously from $47.00.
  • 2/21/2018 – Devon Energy had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $50.00 price target on the stock, down previously from $53.00.
  • 2/5/2018 – Devon Energy is now covered by analysts at B. Riley. They set a “neutral” rating and a $50.00 price target on the stock.
  • 2/2/2018 – Devon Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “Devon Energy’s shares have returned higher than the industry in the last six months. Devon’s diversified portfolio, focus on high margin production zones, cost savings and divestment of non-core assets are boosting its performance. Thanks to solid oil production and performance of its domestic oil plays, the company is well poised to deliver a significant increase in U.S. oil production in 2018 from 2017 levels. However, the highly competitive nature of the oil and gas industry has always been a headwind and limited control over some properties controlled by third parties could have an adverse impact on Devon’s performance.”
  • 1/30/2018 – Devon Energy was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
  • 1/30/2018 – Devon Energy had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $52.00 price target on the stock.
  • 1/30/2018 – Devon Energy was given a new $68.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 1/24/2018 – Devon Energy had its price target raised by analysts at Morgan Stanley from $48.00 to $54.00. They now have an “overweight” rating on the stock.
  • 1/23/2018 – Devon Energy was downgraded by analysts at KLR Group from a “buy” rating to a “hold” rating. They now have a $49.00 price target on the stock.
  • 1/23/2018 – Devon Energy was given a new $50.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/18/2018 – Devon Energy was given a new $51.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.

Shares of Devon Energy stock traded down $0.80 during trading hours on Monday, hitting $31.16. The stock had a trading volume of 9,691,087 shares, compared to its average volume of 7,714,457. Devon Energy has a one year low of $28.79 and a one year high of $45.16. The firm has a market cap of $16,814.15, a price-to-earnings ratio of 11.76, a PEG ratio of 2.43 and a beta of 2.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 1.45.

How to Become a New Pot Stock Millionaire

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.22). Devon Energy had a return on equity of 6.92% and a net margin of 10.04%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business posted $0.25 EPS. Devon Energy’s revenue for the quarter was up 41.8% compared to the same quarter last year. equities research analysts anticipate that Devon Energy will post 1.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.06. Devon Energy’s dividend payout ratio (DPR) is presently 9.06%.

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply