Devon Energy Corp (NYSE:DVN) Quarterly Sentiment Report

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Sentiment for Devon Energy Corp (NYSE:DVN)

Devon Energy Corp (NYSE:DVN) institutional sentiment decreased to 0.8 in 2019 Q2. Its down -0.15, from 0.95 in 2019Q1. The ratio dropped, as 208 hedge funds started new or increased equity positions, while 259 sold and decreased holdings in Devon Energy Corp. The hedge funds in our partner’s database now have: 308.94 million shares, down from 310.04 million shares in 2019Q1. Also, the number of hedge funds holding Devon Energy Corp in their top 10 equity positions increased from 2 to 4 for an increase of 2. Sold All: 58 Reduced: 201 Increased: 148 New Position: 60.

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. The company has market cap of $10.13 billion. It operates approximately 15,200 gross wells. It has a 2.93 P/E ratio. The firm also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

The stock increased 2.08% or $0.51 during the last trading session, reaching $25.07. About 5.66 million shares traded. Devon Energy Corporation (NYSE:DVN) has declined 40.08% since September 13, 2018 and is downtrending. It has underperformed by 40.08% the S&P500.

Analysts await Devon Energy Corporation (NYSE:DVN) to report earnings on November, 5. They expect $0.19 earnings per share, down 69.84 % or $0.44 from last year’s $0.63 per share. DVN’s profit will be $76.80 million for 32.99 P/E if the $0.19 EPS becomes a reality. After $0.43 actual earnings per share reported by Devon Energy Corporation for the previous quarter, Wall Street now forecasts -55.81 % negative EPS growth.

Caymus Capital Partners L.P. holds 10.69% of its portfolio in Devon Energy Corporation for 1.70 million shares. Oslo Asset Management As owns 1.34 million shares or 9.83% of their US portfolio. Moreover, Elm Ridge Management Llc has 6.58% invested in the company for 286,423 shares. The Bahamas-based Key Group Holdings (Cayman) Ltd. has invested 5.42% in the stock. Poplar Forest Capital Llc, a California-based fund reported 1.42 million shares.

Devon Energy Corporation (NYSE:DVN) Ratings Coverage

Ratings analysis reveals 50% of Devon Energy Corp’s analysts are positive. Out of 4 Wall Street analysts rating Devon Energy Corp, 2 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $3100 while the high is $4000. The stock’s average target of $36 is 43.60% above today’s ($25.07) share price. DVN was included in 7 notes of analysts from March 15, 2019. Morgan Stanley maintained Devon Energy Corporation (NYSE:DVN) on Friday, July 12 with “Equal-Weight” rating. RBC Capital Markets downgraded the stock to “Hold” rating in Friday, March 15 report. Wells Fargo maintained Devon Energy Corporation (NYSE:DVN) rating on Monday, May 20. Wells Fargo has “Outperform” rating and $4000 target. The stock of Devon Energy Corporation (NYSE:DVN) earned “Buy” rating by Societe Generale on Wednesday, March 20. The firm has “Hold” rating given on Monday, June 24 by Morgan Stanley.

More notable recent Devon Energy Corporation (NYSE:DVN) news were published by: Finance.Yahoo.com which released: “What Are Analysts Expecting From Devon Energy Corporation (NYSE:DVN) Over The Next Year? – Yahoo Finance” on July 10, 2019, also Finance.Yahoo.com with their article: “Those Who Purchased Devon Energy (NYSE:DVN) Shares Five Years Ago Have A 71% Loss To Show For It – Yahoo Finance” published on August 27, 2019, Finance.Yahoo.com published: “Devon Energy (NYSE:DVN) Seems To Use Debt Quite Sensibly – Yahoo Finance” on August 01, 2019. More interesting news about Devon Energy Corporation (NYSE:DVN) were released by: Finance.Yahoo.com and their article: “5 Cheap Stocks With Low Price-Earnings Ratios – Yahoo Finance” published on August 14, 2019 as well as Fool.com‘s news article titled: “This Oil Company Is Pounding the Table That Its Stock Is Cheap – The Motley Fool” with publication date: September 03, 2019.

Devon Energy Corporation (NYSE:DVN) Institutional Positions Chart

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