Devon Energy (NYSE:DVN) has been given a $46.00 price objective by equities research analysts at Jefferies Group in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the energy company’s stock. Jefferies Group’s price objective would indicate a potential upside of 15.46% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Credit Suisse Group began coverage on Devon Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $43.00 price target for the company. Morgan Stanley lifted their price target on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Cowen reiterated a “buy” rating and set a $37.00 price target on shares of Devon Energy in a research report on Tuesday, August 22nd. Citigroup reiterated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Tuesday, November 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $38.00 price target on shares of Devon Energy in a research report on Friday, November 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.78.

Devon Energy (NYSE DVN) opened at $39.84 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $20,317.50, a P/E ratio of 26.51, a P/E/G ratio of 1.21 and a beta of 2.21. Devon Energy has a 12-month low of $28.79 and a 12-month high of $49.45.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. Devon Energy’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $1.89 earnings per share. equities analysts predict that Devon Energy will post 1.78 EPS for the current year.

In other news, EVP Lyndon C. Taylor sold 12,798 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the completion of the sale, the executive vice president now directly owns 67,900 shares in the company, valued at $2,599,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of DVN. Renaissance Technologies LLC boosted its stake in shares of Devon Energy by 118.2% in the second quarter. Renaissance Technologies LLC now owns 4,376,500 shares of the energy company’s stock worth $139,917,000 after acquiring an additional 2,370,500 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Devon Energy by 4,117.5% in the third quarter. Alyeska Investment Group L.P. now owns 1,835,864 shares of the energy company’s stock worth $67,395,000 after acquiring an additional 1,792,334 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Devon Energy by 66.7% in the second quarter. Prudential Financial Inc. now owns 4,365,017 shares of the energy company’s stock worth $139,549,000 after acquiring an additional 1,745,977 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Devon Energy 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 acquiring an additional 1,295,417 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Devon Energy by 21.6% in the third quarter. Victory Capital Management Inc. now owns 5,570,722 shares of the energy company’s stock worth $204,501,000 after acquiring an additional 988,090 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

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Devon Energy Company Profile

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 (NYSE:DVN)

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