Barclays Maintains Devon Energy Corp to Overweight with Price Target $43.00

Brokerage firm Barclays Maintains its rating on Devon Energy Corp(NYSE:DVN). In a research note issued to the investors, the brokerage major Raises the price-target to $43.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jul 14, 2016.

In a different note, CLSA said it Initiates Coverage on Devon Energy Corp, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 16, 2016, UBS said it Maintains its rating on Devon Energy Corp. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Sell’ by the firm. On May 24, 2016, Barclays said it Maintains its rating on Devon Energy Corp. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 19, 2016, Johnson Rice said it Upgrades its rating on Devon Energy Corp. The shares have been rated ‘Accumulate’ by the firm. On May 5, 2016, Credit Suisse said it Maintains its rating on Devon Energy Corp. In the research note, the firm Raises the price-target to $37.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 5, 2016, Barclays said it Maintains its rating on Devon Energy Corp. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Overweight’ by the firm.

Devon Energy Corp (DVN) shares turned negative on Mondays trading session with the shares closing down -0.18 points or -0.47% at a volume of 54,26,032. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $38.38. The peak price level was also seen at $38.38 while the days lowest was $37.38. Finally the shares closed at $38.11. The 52-week high of the shares is $53.63 while the 52-week low is $18.07. According to the latest information available, the market cap of the company is $19,970 M.

Devon Energy Corp has also declared a cash dividend of $0.0600 on Jun 8, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Sep 30, 2016.

Devon Energy Corp(DVN) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.13B. Analysts had an estimated revenue of $2.57B. Earnings per share were $-0.53. Analysts had estimated an EPS of $-0.64.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, Robert H. Henry (director) sold 7,100 shares at $37.43 per share price.Also, On Jan 6, 2016, Barbara M Baumann (director) purchased 8,200 shares at $30.44 per share price.On Dec 22, 2015, John E Bethancourt (director) purchased 10,000 shares at $28.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration development and production of oil natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S. Canada and EnLink. The Company’s projects in North America include Anadarko Basin Barnett Shale Mississippian-Woodford Trend Permian Basin Rockies and Canadian Heavy Oil. EnLink’s operations consist of midstream assets and operations located across the United States. In Canada the company has two main projects Jackfish and Pike located in Alberta Canada. In addition its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *