Devon Energy (NYSE:DVN) Lowered to Sell Rating by StockNews.com

Devon Energy (NYSE:DVN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

DVN has been the topic of a number of other reports. Wells Fargo & Company lowered their target price on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets lowered their price objective 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. Susquehanna reduced their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Scotiabank decreased their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average target price of $51.80.

Devon Energy Trading Down 0.1 %

NYSE DVN opened at $38.87 on Thursday. The stock has a market capitalization of $24.34 billion, a P/E ratio of 7.05, a P/E/G ratio of 1.20 and a beta of 2.03. The business has a 50 day simple moving average of $40.48 and a 200 day simple moving average of $44.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy has a one year low of $37.76 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Devon Energy will post 4.93 earnings per share for the current year.

Institutional Trading of Devon Energy

A number of institutional investors have recently modified their holdings of DVN. Vanguard Group Inc. increased its stake in Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after buying an additional 1,357,311 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

About Devon Energy

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.