Devon Energy (NYSE:DVN) PT Lowered to $64.00

Devon Energy (NYSE:DVNGet Free Report) had its target price lowered by stock analysts at Truist Financial from $67.00 to $64.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective would suggest a potential upside of 39.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Mizuho boosted their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their target price on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley boosted their target price on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank boosted their target price on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Check Out Our Latest Stock Report on DVN

Devon Energy Stock Down 0.3 %

Shares of DVN opened at $45.90 on Tuesday. The stock has a market capitalization of $29.01 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.23 and a beta of 2.07. Devon Energy has a 1 year low of $40.47 and a 1 year high of $55.09. The business’s 50 day simple moving average is $47.94 and its 200-day simple moving average is $47.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.

Devon Energy (NYSE:DVNGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities analysts expect that Devon Energy will post 5.25 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in Devon Energy during the fourth quarter valued at about $791,000. Wahed Invest LLC boosted its position in Devon Energy by 6.3% during the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock valued at $496,000 after purchasing an additional 648 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Devon Energy by 39.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock valued at $9,008,000 after purchasing an additional 55,459 shares in the last quarter. L. Roy Papp & Associates LLP bought a new stake in Devon Energy during the fourth quarter valued at about $287,000. Finally, MCF Advisors LLC boosted its holdings in Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

(Get Free Report)

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.

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