Devon Energy (NYSE:DVN) Receives “Hold” Rating from Benchmark

by · The Cerbat Gem

Devon Energy (NYSE:DVN – Get Free Report)‘s stock had its “hold” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports.

A number of other equities research analysts have also recently weighed in on the stock. Truist Financial cut their price objective on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wolfe Research assumed coverage on Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. BMO Capital Markets dropped their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.58.

Check Out Our Latest Research Report on Devon Energy

Devon Energy Stock Down 3.8 %

Shares of NYSE:DVN traded down $1.61 during trading on Tuesday, hitting $41.26. The stock had a trading volume of 1,154,607 shares, compared to its average volume of 7,248,418. The company has a market capitalization of $26.08 billion, a PE ratio of 7.87, a PEG ratio of 1.27 and a beta of 2.02. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $42.40 and its 200 day moving average is $46.53. Devon Energy has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. Analysts anticipate that Devon Energy will post 5.01 EPS for the current fiscal year.

Institutional Trading of Devon Energy

Institutional investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. grew its position in shares of Devon Energy by 31.4% in the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC increased its stake in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after acquiring an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Devon Energy by 7.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares during the period. MCF Advisors LLC boosted its holdings in Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after purchasing an additional 215 shares during the last quarter. Finally, Annex Advisory Services LLC grew its stake in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after buying an additional 223 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

About Devon Energy

(Get Free Report)

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.

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