Devon Energy (NYSE:DVN) Stock Rating Upgraded by TD Cowen

Devon Energy (NYSE:DVN) was upgraded by stock analysts at TD Cowen to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on DVN. Citigroup increased their price objective on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Barclays raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $50.00 in a research report on Wednesday, February 4th. BMO Capital Markets reduced their price target on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Roth Mkm restated a “buy” rating and issued a $42.00 price objective on shares of Devon Energy in a research report on Wednesday, December 31st. Finally, Johnson Rice dropped their price objective on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $45.97.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $43.51 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. Devon Energy has a one year low of $25.89 and a one year high of $44.02. The business’s 50-day moving average price is $37.70 and its two-hundred day moving average price is $35.45. The company has a market capitalization of $27.29 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caldwell Trust Co acquired a new position in shares of Devon Energy in the second quarter valued at approximately $25,000. PFS Partners LLC bought a new stake in Devon Energy in the 3rd quarter valued at $25,000. First Horizon Corp acquired a new position in Devon Energy in the 3rd quarter valued at $26,000. Accredited Wealth Management LLC increased its position in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the period. Finally, Ameriflex Group Inc. lifted its holdings in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

About Devon Energy

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.