Devon Energy Corporation (NYSE:DVN)‘s stock had its “hold” rating reissued by analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They currently have a $31.00 price objective on the energy company’s stock, down from their prior price objective of $35.00. Jefferies Group LLC’s price objective would indicate a potential upside of 0.23% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets reissued a “buy” rating and set a $45.00 price target on shares of Devon Energy Corporation in a report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 target price on shares of Devon Energy Corporation in a report on Tuesday, June 6th. Royal Bank Of Canada set a $53.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a report on Monday, May 29th. Scotiabank set a $57.00 target price on Devon Energy Corporation and gave the stock a “buy” rating in a report on Tuesday, May 16th. Finally, KLR Group reaffirmed a “buy” rating and issued a $54.00 target price (up from $52.00) on shares of Devon Energy Corporation in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.95.

Shares of Devon Energy Corporation (DVN) traded down 0.81% on Tuesday, reaching $30.68. The company’s stock had a trading volume of 1,652,627 shares. The firm’s 50 day moving average is $31.66 and its 200-day moving average is $36.76. Devon Energy Corporation has a 52-week low of $28.79 and a 52-week high of $50.69. The stock has a market cap of $16.13 billion, a P/E ratio of 6.94 and a beta of 2.17.

Devon Energy Corporation (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Devon Energy Corporation had a return on equity of 5.36% and a net margin of 16.07%. The company’s revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities research analysts forecast that Devon Energy Corporation will post $1.75 EPS for the current year.

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In other news, Director Robert H. Henry sold 7,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.35, for a total transaction of $234,950.75. Following the completion of the transaction, the director now owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of DVN. BlackRock Inc. raised its position in shares of Devon Energy Corporation by 3,279.8% in the first quarter. BlackRock Inc. now owns 46,398,296 shares of the energy company’s stock worth $1,935,735,000 after buying an additional 45,025,477 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Devon Energy Corporation by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,823,163 shares of the energy company’s stock worth $1,432,998,000 after buying an additional 1,295,417 shares during the last quarter. State Street Corp raised its position in shares of Devon Energy Corporation by 1.0% in the second quarter. State Street Corp now owns 27,673,118 shares of the energy company’s stock worth $884,702,000 after buying an additional 265,179 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Devon Energy Corporation by 3.3% in the first quarter. Artisan Partners Limited Partnership now owns 8,077,398 shares of the energy company’s stock worth $336,989,000 after buying an additional 255,610 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Devon Energy Corporation by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 6,311,065 shares of the energy company’s stock worth $263,297,000 after buying an additional 1,690,260 shares during the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.

About Devon Energy Corporation

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

Analyst Recommendations for Devon Energy Corporation (NYSE:DVN)

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