Jefferies Financial Group Boosts Devon Energy (NYSE:DVN) Price Target to $36.00

Devon Energy (NYSE:DVN) had its price target boosted by stock analysts at Jefferies Financial Group from $33.00 to $36.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a “hold” rating on the energy company’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 4.62% from the company’s current price.

Several other research firms also recently weighed in on DVN. Raymond James Financial upped their price target on Devon Energy from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Wolfe Research dropped their target price on shares of Devon Energy from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Citigroup lifted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Finally, Johnson Rice cut their price objective on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Devon Energy Trading Up 4.0%

Shares of Devon Energy stock opened at $37.74 on Tuesday. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $38.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The company has a market capitalization of $23.68 billion, a P/E ratio of 8.88, a P/E/G ratio of 3.23 and a beta of 0.60. The company has a fifty day moving average of $36.46 and a 200 day moving average of $34.75.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period in the previous year, the business earned $1.10 earnings per share. On average, sell-side analysts anticipate that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust raised its position in Devon Energy by 4.5% during the fourth quarter. Greenleaf Trust now owns 22,382 shares of the energy company’s stock valued at $820,000 after purchasing an additional 961 shares during the period. MBL Wealth LLC bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $288,000. Daytona Street Capital LLC purchased a new stake in Devon Energy during the 4th quarter valued at $205,000. Bank of Stockton lifted its position in Devon Energy by 9.2% in the fourth quarter. Bank of Stockton now owns 10,771 shares of the energy company’s stock worth $395,000 after buying an additional 910 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in Devon Energy by 5.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,719 shares of the energy company’s stock worth $283,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.