Devon Energy (NYSE:DVN) Price Target Lowered to $35.00 at UBS Group

Devon Energy (NYSE:DVN) had its target price dropped by research analysts at UBS Group from $41.00 to $35.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group’s target price points to a potential upside of 22.95% from the company’s current price.

DVN has been the subject of several other research reports. Cowen downgraded Devon Energy to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Citigroup decreased their price objective on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a report on Friday. Barclays lifted their target price on Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

Devon Energy Price Performance

NYSE:DVN traded down $0.84 during trading hours on Monday, hitting $28.47. The company’s stock had a trading volume of 12,949,229 shares, compared to its average volume of 8,220,340. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market capitalization of $18.47 billion, a P/E ratio of 6.25, a PEG ratio of 1.20 and a beta of 1.50. Devon Energy has a twelve month low of $27.31 and a twelve month high of $55.09. The stock has a fifty day simple moving average of $35.22 and a 200-day simple moving average of $36.67.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Trading of Devon Energy

Institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC boosted its stake in Devon Energy by 29.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 30,881 shares of the energy company’s stock worth $1,208,000 after purchasing an additional 7,087 shares during the period. Morse Asset Management Inc bought a new position in shares of Devon Energy in the third quarter valued at approximately $126,000. Quadrature Capital Ltd purchased a new position in Devon Energy during the third quarter valued at approximately $325,000. Kovitz Investment Group Partners LLC increased its holdings in Devon Energy by 49.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 47,904 shares of the energy company’s stock worth $1,874,000 after acquiring an additional 15,891 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Devon Energy by 146.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 22,136 shares of the energy company’s stock worth $866,000 after acquiring an additional 13,150 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Company Profile

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.