Devon Energy (NYSE:DVN) Given New $65.00 Price Target at Susquehanna

Devon Energy (NYSE:DVN) had its target price lifted by analysts at Susquehanna from $52.00 to $65.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the energy company’s stock. Susquehanna’s target price indicates a potential upside of 23.64% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $46.00 to $59.00 in a research note on Monday, April 1st. Mizuho reduced their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Barclays assumed coverage on Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Scotiabank lifted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Devon Energy Stock Up 0.8 %

Shares of Devon Energy stock opened at $52.57 on Monday. Devon Energy has a 1 year low of $40.47 and a 1 year high of $55.09. The company has a market cap of $33.38 billion, a P/E ratio of 9.02 and a beta of 2.19. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $48.30 and a 200 day moving average price of $46.05.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, analysts expect that Devon Energy will post 5.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth about $27,000. Manchester Capital Management LLC bought a new position in Devon Energy in the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy during the first quarter worth approximately $30,000. Sound Income Strategies LLC boosted its position in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after acquiring an additional 255 shares during the period. Finally, Rise Advisors LLC grew its stake in shares of Devon Energy by 1,365.3% in the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after acquiring an additional 669 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.