Devon Energy (NYSE:DVN) PT Raised to $69.00 at Truist Financial

Devon Energy (NYSE:DVN) had its price objective raised by equities research analysts at Truist Financial from $66.00 to $69.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price points to a potential upside of 31.25% from the stock’s current price.

DVN has been the subject of several other research reports. Piper Sandler increased their target price on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a research note on Thursday, March 7th. Scotiabank upped their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho reduced their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Finally, Citigroup boosted their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Devon Energy Trading Up 0.8 %

NYSE:DVN opened at $52.57 on Monday. The company’s 50 day moving average is $48.30 and its 200-day moving average is $46.05. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy has a 12 month low of $40.47 and a 12 month high of $55.09. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 9.02 and a beta of 2.19.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm posted $1.66 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Devon Energy will post 5.14 EPS for the current year.

Institutional Trading of Devon Energy

A number of large investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth about $27,000. Manchester Capital Management LLC acquired a new position in Devon Energy in the fourth quarter valued at about $28,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the first quarter worth about $30,000. Sound Income Strategies LLC increased its holdings in shares of Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after buying an additional 255 shares in the last quarter. Finally, Rise Advisors LLC raised 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 valued at $33,000 after acquiring an additional 669 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

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.