Raymond James Increases Devon Energy (NYSE:DVN) Price Target to $87.00

Devon Energy (NYSE:DVNGet Rating) had its price objective hoisted by investment analysts at Raymond James from $83.00 to $87.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “strong-buy” rating on the energy company’s stock. Raymond James’ price objective would suggest a potential upside of 18.17% from the stock’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group started coverage on Devon Energy in a research report on Wednesday, October 19th. They issued a “hold” rating and a $75.00 target price for the company. Mizuho decreased their target price on Devon Energy from $91.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Morgan Stanley decreased their target price on Devon Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Thursday, September 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.76.

Devon Energy Trading Up 3.0 %

NYSE:DVN opened at $73.62 on Monday. The stock has a market cap of $48.13 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.15 and a beta of 2.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.16. Devon Energy has a 1 year low of $35.55 and a 1 year high of $79.40. The stock has a 50-day simple moving average of $69.20 and a 200-day simple moving average of $66.01.

Insider Activity at Devon Energy

In related news, EVP Dennis C. Cameron sold 5,557 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $70.48, for a total value of $391,657.36. Following the completion of the transaction, the executive vice president now directly owns 258,981 shares of the company’s stock, valued at approximately $18,252,980.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Devon Energy

Large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in Devon Energy during the 1st quarter valued at $26,000. WASHINGTON TRUST Co acquired a new stake in Devon Energy during the 1st quarter valued at $26,000. SJS Investment Consulting Inc. acquired a new stake in Devon Energy during the 3rd quarter valued at $29,000. Financial Enhancement Group LLC acquired a new stake in Devon Energy during the 3rd quarter valued at $29,000. Finally, Optimum Investment Advisors acquired a new stake in Devon Energy during the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

Devon Energy Company Profile

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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. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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