According to The Fly, research analysts at Citigroup lowered their price objective for Devon Energy (NYSE: DVN) on Tuesday, bringing it down from $80.00 to $78.00. The research note was released to investors. The price objective set by Citigroup represents a possible increase of 16.09% over the stock’s most recent closing price.
In addition, DVN has been discussed in a couple of additional papers. Raymond James increased their price target on Devon Energy from $83.00 to $87.00 and gave the stock a “strong-buy” rating in a research report published on Monday, November 14th. The shares of Devon Energy were lowered to a “sell” rating by StockNews.com on November 4th, 2018, moving down from a “hold” recommendation. Piper Jaffray increased their target price on Devon Energy from $94.00 to $96.00 and gave the stock an “overweight” rating in a report released on Tuesday, October 18th. Goldman Sachs Group increased their price target on Devon Energy from $62.00 to $73.00 and gave the stock a “neutral” rating in a report published on Wednesday, October 19th. Finally, in a research note published on Thursday, September 15th, JPMorgan Chase & Co. lowered their price target on Devon Energy from $83.00 to “neutral,” indicating that they do not have an opinion either way. They explained that the choice was made after conducting an evaluation. One equity research analyst suggests selling the stock, seven recommend hanging onto the stock, eight recommend purchasing the stock, and one strongly recommends purchasing the stock. According to the data provided by Bloomberg, the stock is presently assigned a rating of “Moderate Buy,” and analysts have assigned an average price target of $81.17.
The NYSE DVN began with a price of $67.19 on Tuesday. There is a 0.56 debt-to-equity ratio, 1.16 for the quick ratio, 1.16 for the current ratio, and 1.16 for the quick ratio. The stock price has had a moving average of $69.25 over the past 50 days and a price of $66.16 over the past 200 days. Devon Energy hit a 52-week low of $35.55 and a 52-week high of $79.40 during the year. The stock has a market capitalization of $43.92 billion, a price-to-earnings ratio of 7.06, a price-to-growth ratio of 0.15, and a beta value of 2.45.
In other news regarding Devon Energy, Executive Vice President Dennis C. Cameron sold 5,557 shares of the company’s stock on Wednesday, November 9th. At an average price of $70.48 per share, the stock brought in a total of $391,657.36 after being sold. The current value of the executive vice president’s stock portfolio, which includes 258.981 shares of the company’s common stock, is roughly $18,252,980.88. The transaction was disclosed in a file with the SEC, which may be found on the SEC’s website shares of the company’s stock on Wednesday, November 9th. At an average price of $70.48 per share, the stock brought in a total of $391,657.36 after being sold. The current value of the executive vice president’s stock portfolio, which includes 258.981 shares of the company’s common stock, is roughly $18,252,980.88. The transaction was disclosed in a file with the SEC, which may be found on the SEC’s website. Company insiders hold a total of 0.80% of the business’s stock.
The company’s stock has lately been bought and sold by significant investors. During the third quarter, State Street Corporation completed a 7.3% stake increase in Devon Energy. After making an additional purchase of 2,902,180 shares during the most recent quarter, State Street Corp. now owns a total of 42,814,521 shares of the energy company, which have a value of $2,574,437,000. In addition, Yacktman Asset Management LP paid 160 242 000 dollars for a new interest in Devon Energy during the third quarter. During the first three months of 2018, Boston Partners raised its holdings in Devon Energy by 36.6%. Boston Partners now owns 7,774,464 shares of the energy company’s stock, which are worth a total of $459,821,000 after the firm made a new purchase of 2,083,360 shares during the most recent quarter. During the second quarter, FMR LLC was able to boost its holdings in Devon Energy by 9.8%. FMR LLC now owns 23,119 of the energy company’s stock, valued at $1,267,536,000 after the business made additional purchases totaling 2,060,138 shares during the period in question.
Last but not least, during the first three months of the year, the Bank of Montreal boosted the percentage of Devon Energy shares it owned by 276.7%. After purchasing an additional 1,743,220 shares during the most recent quarter, Bank of Montreal Can now have a total ownership stake in the energy company equal to 2,373,320 shares for a combined amount of $143,776,000. The majority of the company’s stock, or 79.19%, is held by institutional investors.
Devon Energy Corporation is an independent energy company with its headquarters in the United States. Its primary activities include exploring, developing, and producing oil, natural gas, and natural gas liquids. It has a total of 5,134 wells that are considered gross. The Devon Energy Corporation began its operations in 1971 and currently maintains its headquarters in Oklahoma City, Oklahoma.
Source: news.google.com
