Jefferies Financial Group Issues Positive Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its price target boosted by Jefferies Financial Group from $33.00 to $36.00 in a research note released on Tuesday morning,MarketScreener reports. Jefferies Financial Group currently has a hold rating on the energy company’s stock.

Other equities analysts have also recently issued reports about the company. Wolfe Research lowered their price target on Devon Energy from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Piper Sandler lowered their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Siebert Williams Shank dropped their price target on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Argus raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Devon Energy in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $44.38.

Devon Energy Stock Performance

Shares of Devon Energy stock traded up $1.53 on Tuesday, reaching $37.82. 1,996,992 shares of the company were exchanged, compared to its average volume of 10,209,554. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 3.08 and a beta of 0.60. Devon Energy has a 1-year low of $25.89 and a 1-year high of $38.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The company’s 50-day moving average is $36.41 and its two-hundred day moving average is $34.73.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same period in the previous year, the business posted $1.10 EPS. As a group, research analysts expect that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, December 15th. Devon Energy’s payout ratio is 22.59%.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy in the second quarter worth $25,000. Caldwell Trust Co acquired a new stake in Devon Energy in the 2nd quarter worth $25,000. PFS Partners LLC acquired a new stake in Devon Energy in the 3rd quarter worth $25,000. First Horizon Corp bought a new position in shares of Devon Energy during the 3rd quarter worth about $26,000. Finally, Accredited Wealth Management LLC raised its position in shares of Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.