Susquehanna Analysts Begin Coverage on Devon Energy (DVN)
A number of other analysts have also recently weighed in on DVN. Analysts at Pritchard Capital initiated coverage on shares of Devon Energy in a research note to investors on Tuesday, May 8th. They set a “buy” rating and a $83.00 price target on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of Devon Energy to $93.00 in a research note to investors on Monday, May 7th. They now have a “buy” rating on the stock. Finally, analysts at Guggenheim cut their price target on shares of Devon Energy from $95.00 to $90.00 in a research note to investors on Monday, May 7th. They now have a “buy” rating on the stock.
Devon Energy traded up 1.51% on Friday, hitting $62.36. Devon Energy has a 52-week low of $50.74 and a 52-week high of $91.61. The company has a market cap of $25.218 billion and a price-to-earnings ratio of 5.38.
Devon Energy last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $1.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.42 by $0.37. The company’s quarterly revenue was up 16.3% on a year-over-year basis. Analysts expect that Devon Energy will post $1.39 EPS next quarter.
Devon Energy Corporation (Devon) is an independent energy company engaged in exploration, development and production of natural gas and oil.