The stock of Devon Energy Corp (NYSE:DVN) is a huge mover today! About 9.91 million shares traded hands or 80.18% up from the average. Devon Energy Corp (NYSE:DVN) has risen 14.22% since April 27, 2016 and is uptrending. It has outperformed by 9.00% the S&P500.
The move comes after 7 months positive chart setup for the $24.79B company. It was reported on Nov, 30 by Barchart.com. We have $49.33 PT which if reached, will make NYSE:DVN worth $743.70 million more.
Analysts await Devon Energy Corp (NYSE:DVN) to report earnings on February, 21. They expect $0.18 earnings per share, down 76.62% or $0.59 from last year’s $0.77 per share. DVN’s profit will be $93.18M for 66.51 P/E if the $0.18 EPS becomes a reality. After $0.09 actual earnings per share reported by Devon Energy Corp for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
Devon Energy Corp (NYSE:DVN) Ratings Coverage
Out of 25 analysts covering Devon Energy Corporation (NYSE:DVN), 18 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 72% are positive. Devon Energy Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Devon Energy Corp (NYSE:DVN) rating on Thursday, September 1. Barclays Capital has “Overweight” rating and $50 price target. The stock has “Buy” rating given by Citigroup on Monday, September 14. As per Tuesday, September 6, the company rating was downgraded by Raymond James. Barclays Capital maintained Devon Energy Corp (NYSE:DVN) rating on Friday, February 19. Barclays Capital has “Overweight” rating and $26 price target. The stock has “Buy” rating given by Citigroup on Monday, July 18. As per Thursday, April 7, the company rating was maintained by Citigroup. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, February 18. The rating was upgraded by Johnson Rice to “Accumulate” on Thursday, May 19. On Monday, January 11 the stock rating was upgraded by Barclays Capital to “Overweight”. JP Morgan initiated the stock with “Overweight” rating in Wednesday, December 9 report.
According to Zacks Investment Research, “Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The Company is the second-largest oil producer among North American onshore independents.”
Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.05, from 0.94 in 2016Q1. The ratio is negative, as 69 funds sold all Devon Energy Corp shares owned while 258 reduced positions. 98 funds bought stakes while 210 increased positions. They now own 391.88 million shares or 2.55% less from 402.14 million shares in 2016Q1.
Snow Capital Mgmt Limited Partnership reported 1.65 million shares or 2.81% of all its holdings. Commonwealth Of Pennsylvania School Empls Retrmt owns 56,128 shares or 0.04% of their US portfolio. Standard Life Limited last reported 1.27M shares in the company. Schwab Charles Invest reported 1.78 million shares or 0.08% of all its holdings. Moreover, Ep Wealth Advsr has 0.9% invested in Devon Energy Corp (NYSE:DVN) for 156,281 shares. Brandywine Invest Management has invested 1.18% of its portfolio in Devon Energy Corp (NYSE:DVN). West Oak Lc owns 300 shares or 0% of their US portfolio. Cqs Cayman Ltd Partnership accumulated 15,000 shares or 0.05% of the stock. Public Employees Retirement Association Of Colorado holds 0.03% or 100,184 shares in its portfolio. Old Second Bancorp Of Aurora, a Illinois-based fund reported 300 shares. Headinvest Ltd Liability Corp has 29,472 shares for 0.4% of their US portfolio. Stonebridge Cap owns 25,865 shares or 0.43% of their US portfolio. Invsts Advisory holds 14,915 shares or 0.1% of its portfolio. Ngam Advsr Limited Partnership reported 148,778 shares or 0.07% of all its holdings. Finemark Commercial Bank And owns 2,301 shares or 0.01% of their US portfolio.
More recent Devon Energy Corp (NYSE:DVN) news were published by: Fool.com which released: “Devon Energy Corp Delivers Record-Setting Well Results” on November 02, 2016. Also Seekingalpha.com published the news titled: “More Bullish STACK Updates From Devon Energy” on November 28, 2016. Newsok.com‘s news article titled: “Devon Energy agrees to cancel federal leases on tribal land in Montana” with publication date: November 17, 2016 was also an interesting one.
DVN Company Profile
Devon Energy Corporation (Devon), incorporated on May 18, 1999, is an independent energy firm engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s activities are concentrated in various North American onshore areas in the United States and Canada. The Firm also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day. The Firm operates through three divisions: U.S., Canada and EnLink. Devon’s U.S. and Canadian divisions are engaged in gas and oil exploration and production activities. EnLink’s activities consist of midstream assets and activities located across the United States.
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