Devon Energy (NYSE:DVN) PT Raised to $65.00

Devon Energy (NYSE:DVN) had its price objective increased by Susquehanna from $52.00 to $65.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective suggests a potential upside of 23.64% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James dropped their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a research report on Thursday, March 7th. Piper Sandler upped their price target on Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Stifel Nicolaus lowered their price target on Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Barclays began coverage on Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price for the company. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Devon Energy Stock Up 0.8 %

NYSE:DVN opened at $52.57 on Monday. The firm has a market capitalization of $33.38 billion, a P/E ratio of 9.02 and a beta of 2.19. The company’s fifty day moving average price is $48.30 and its 200-day moving average price is $46.05. Devon Energy has a 1-year low of $40.47 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

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

Institutional Investors Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Devon Energy during the 3rd quarter worth $27,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the first quarter valued at about $30,000. Manchester Capital Management LLC purchased a new position in Devon Energy during the fourth quarter worth about $28,000. Sound Income Strategies LLC increased its position 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 valued at $31,000 after acquiring an additional 255 shares during the last quarter. Finally, Rise Advisors LLC raised its stake in shares of Devon Energy by 1,365.3% in the 4th 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 period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.