1 day Ago By ABMN Staff
Devon Energy ( NYSE:DVN – Get Free Report ) had its target price hoisted by Piper Sandler from $56.00 to $57.00 in a research note issued to investors on Monday, Benzinga reports.
The brokerage presently has an “overweight” rating on the energy company’s stock. Piper Sandler’s price target suggests a potential upside of 50.36% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.
00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Barclays cut their price target on shares of Devon Energy from $55.00 to $46.
00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.
00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.
00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Devon Energy from $50.00 to $49.
00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Devon Energy has a consensus rating of “Hold” and an average target price of $51.
85. Check Out Our Latest Analysis on Devon Energy Devon Energy Price Performance Devon Energy ( NYSE:DVN – Get Free Report ) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.
10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01.
Devon Energy had a net margin of 21.71% and a return on equity of 24.73%.
The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion.
During the same quarter in the prior year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.
9% on a year-over-year basis. Analysts anticipate that Devon Energy will post 4.84 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Devon Energy Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Devon Energy by 1.3% during the third quarter.
Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P.
purchased a new stake in shares of Devon Energy in the third quarter valued at $461,857,000. Pacer Advisors Inc. raised its stake 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 acquiring an additional 1,677,652 shares during the period.
EnCap Partners GP LLC purchased a new stake in shares of Devon Energy in the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. raised its stake in shares of Devon Energy by 3.
8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after acquiring an additional 361,968 shares during the period.
69.72% of the stock is currently owned by institutional investors. 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. Recommended Stories 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 ..
