Devon Energy (NYSE:DVN) Price Target Raised to $52.00

Devon Energy (NYSE:DVN) had its price target raised by investment analysts at Susquehanna from $50.00 to $52.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective would suggest a potential upside of 38.72% from the stock’s current price.

DVN has been the topic of several other research reports. TD Cowen decreased their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Truist Financial boosted their price target on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday. Mizuho reduced their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, Raymond James boosted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Stock Down 2.8 %

DVN opened at $37.49 on Thursday. The company has a market cap of $24.62 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. The business’s 50-day moving average price is $34.47 and its 200-day moving average price is $38.37. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities analysts expect that Devon Energy will post 4.85 EPS for the current year.

Institutional Trading of Devon Energy

A number of hedge funds have recently made changes to their positions in the stock. Michels Family Financial LLC bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $360,000. GF Fund Management CO. LTD. bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $6,513,000. Vise Technologies Inc. boosted its position in shares of Devon Energy by 56.8% in the 4th quarter. Vise Technologies Inc. now owns 11,806 shares of the energy company’s stock worth $386,000 after purchasing an additional 4,275 shares in the last quarter. Headinvest LLC boosted its position in shares of Devon Energy by 51.7% in the 4th quarter. Headinvest LLC now owns 19,670 shares of the energy company’s stock worth $644,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Inspire Trust Co. N.A. bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $3,731,000. 69.72% of the stock is 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.