Devon Energy (NYSE:DVN) Price Target Cut to $67.00 by Analysts at Barclays

Devon Energy (NYSE:DVN – Get Rating) had its price target dropped by Barclays from $82.00 to $67.00 in a research report issued on Friday, The Fly reports. Barclays‘s price objective would indicate a potential upside of 45.18% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Sanford C. Bernstein lowered their price target on shares of Devon Energy from $84.00 to $71.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $70.00 to $59.00 and set an “equal weight” rating on the stock in a report on Friday, February 17th. Argus raised their target price on shares of Devon Energy from $77.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 17th. Morgan Stanley lowered their target price on shares of Devon Energy from $67.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 24th. Finally, Raymond James lowered their target price on shares of Devon Energy from $80.00 to $67.00 and set a “strong-buy” rating on the stock in a report on Wednesday, February 22nd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.42.

Devon Energy Stock Down 0.3 %

Devon Energy stock opened at $46.15 on Friday. The stock has a market cap of $30.18 billion, a P/E ratio of 5.06, a P/E/G ratio of 0.13 and a beta of 2.33. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt-to-equity ratio of 0.55. Devon Energy has a twelve month low of $44.03 and a twelve month high of $79.40. The company’s 50-day moving average price is $58.47 and its two-hundred day moving average price is $64.11.

Devon Energy (NYSE:DVN – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The energy company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.09). The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.29 billion. Devon Energy had a net margin of 31.38% and a return on equity of 52.20%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, analysts expect that Devon Energy will post 6.97 EPS for the current year.

Insider Transactions at Devon Energy

In related news, Director John E. Bethancourt purchased 3,765 shares of the stock in a transaction dated Friday, February 17th. The stock was bought at an average cost of $53.06 per share, for a total transaction of $199,770.90. Following the completion of the acquisition, the director now owns 94,669 shares of the company’s stock, valued at $5,023,137.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John E. Bethancourt purchased 3,765 shares of the stock in a transaction dated Friday, February 17th. The stock was bought at an average cost of $53.06 per share, for a total transaction of $199,770.90. Following the completion of the acquisition, the director now owns 94,669 shares of the company’s stock, valued at $5,023,137.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Dennis C. Cameron sold 7,179 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $54.77, for a total transaction of $393,193.83. Following the transaction, the executive vice president now owns 262,498 shares of the company’s stock, valued at $14,377,015.46. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Institutional Trading of Devon Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Continuum Advisory LLC increased its holdings in Devon Energy by 2.2% in the third quarter. Continuum Advisory LLC now owns 6,605 shares of the energy company’s stock valued at $397,000 after purchasing an additional 143 shares during the period. CRA Financial Services LLC boosted its position in Devon Energy by 4.1% during the third quarter. CRA Financial Services LLC now owns 3,794 shares of the energy company’s stock valued at $228,000 after acquiring an additional 150 shares during the last quarter. Wahed Invest LLC boosted its position in Devon Energy by 2.1% during the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock valued at $469,000 after acquiring an additional 161 shares during the last quarter. Savant Capital LLC boosted its position in Devon Energy by 0.9% during the fourth quarter. Savant Capital LLC now owns 18,931 shares of the energy company’s stock valued at $1,164,000 after acquiring an additional 164 shares during the last quarter. Finally, Kanawha Capital Management LLC boosted its position in Devon Energy by 1.7% during the fourth quarter. Kanawha Capital Management LLC now owns 9,782 shares of the energy company’s stock valued at $602,000 after acquiring an additional 166 shares during the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

About Devon Energy

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.