Is Morgan Stanley Positive On Shares of Devon Energy (DVN)?

July 12, 2018 - By Elena Maslow

Devon Energy Corporation (NYSE:DVN) Logo

Investors sentiment increased to 0.94 in Q1 2018. Its up 0.02, from 0.92 in 2017Q4. It is positive, as 70 investors sold Devon Energy Corporation shares while 229 reduced holdings. 82 funds opened positions while 199 raised stakes. 407.74 million shares or 0.72% more from 404.83 million shares in 2017Q4 were reported.

Ameritas Investment Prtn invested 0.09% in Devon Energy Corporation (NYSE:DVN). Cibc Ww Mkts holds 0.29% or 872,099 shares in its portfolio. 14,491 are owned by First Midwest Savings Bank Tru Division. Finemark Natl Bank Tru holds 0.27% or 132,823 shares in its portfolio. Evercore Wealth Management Ltd Co has 9,446 shares for 0.01% of their portfolio. Centre Asset Mngmt Limited Co invested 1.78% in Devon Energy Corporation (NYSE:DVN). Zurcher Kantonalbank (Zurich Cantonalbank), Switzerland-based fund reported 121,666 shares. Missouri-based Century Cos has invested 0.21% in Devon Energy Corporation (NYSE:DVN). Bnp Paribas Arbitrage has invested 0% in Devon Energy Corporation (NYSE:DVN). The Pennsylvania-based Brandywine Global Inv Mngmt Ltd Limited Liability Company has invested 0.78% in Devon Energy Corporation (NYSE:DVN). Grandfield Dodd Lc reported 111,661 shares or 0.4% of all its holdings. Gemmer Asset Ltd Liability Corporation has invested 0.01% of its portfolio in Devon Energy Corporation (NYSE:DVN). Roanoke Asset Mgmt New York, New York-based fund reported 32,149 shares. Everence Capital holds 12,570 shares. Ascend Cap Ltd Company stated it has 0.57% of its portfolio in Devon Energy Corporation (NYSE:DVN).

Why Has Morgan Stanley Given Devon Energy (DVN) a $46.0 Price Target

Morgan Stanley published in a note that it has initiated coverage on Devon Energy (DVN) stock, with Equal-Weight rating and a $46.0 target.

The stock decreased 0.14% or $0.06 during the last trading session, reaching $44.06. About 2.68M shares traded. Devon Energy Corporation (DVN) has risen 13.57% since July 12, 2017 and is uptrending. It has outperformed by 1.00% the S&P500.

Analysts await Devon Energy Corporation (NYSE:DVN) to report earnings on July, 31 after the close. They expect $0.29 earnings per share, down 14.71 % or $0.05 from last year’s $0.34 per share. DVN’s profit will be $151.79 million for 37.98 P/E if the $0.29 EPS becomes a reality. After $0.20 actual earnings per share reported by Devon Energy Corporation for the previous quarter, Wall Street now forecasts 45.00 % EPS growth.

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 $23.06 billion. It operates approximately 15,200 gross wells. It has a 59.22 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.

More important recent Devon Energy Corporation (NYSE:DVN) news were published by: Seekingalpha.com which released: “Devon Execution Risks In Permian Have Been Greatly Diminished” on July 08, 2018, also 247Wallst.com published article titled: “Top Analyst Upgrades and Downgrades: AbbVie, Amazon, Anadarko, Broadcom, CA, Chipotle, ConocoPhillips, GE …”, Seekingalpha.com published: “Significant Catalysts That Will Drive Devon Energy Higher” on June 26, 2018. More interesting news about Devon Energy Corporation (NYSE:DVN) was released by: Fool.com and their article: “ConocoPhillips Is Emphatic: Its Stock Is Still Cheap” with publication date: July 12, 2018.

Devon Energy Corporation (NYSE:DVN) Institutional Positions Chart

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