Devon Energy (NYSE:DVN) Given New $52.00 Price Target at Raymond James Financial

Devon Energy (NYSE:DVN) had its target price boosted by Raymond James Financial from $44.00 to $52.00 in a research report report published on Wednesday morning,MarketScreener reports. Raymond James Financial currently has an outperform rating on the energy company’s stock.

A number of other brokerages have also issued reports on DVN. Roth Mkm reiterated a “buy” rating and set a $42.00 target price on shares of Devon Energy in a research report on Wednesday, December 31st. UBS Group set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, February 4th. Wells Fargo & Company boosted their target price on shares of Devon Energy from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. BMO Capital Markets reduced their price target on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Finally, Johnson Rice lowered their price objective on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.

Devon Energy Stock Performance

Shares of DVN stock opened at $44.98 on Wednesday. The company has a market capitalization of $28.22 billion, a P/E ratio of 10.58, a P/E/G ratio of 3.80 and a beta of 0.61. The business’s 50 day moving average is $37.97 and its two-hundred day moving average is $35.59. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Devon Energy has a 12-month low of $25.89 and a 12-month high of $45.02.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Caldwell Trust Co purchased a new stake in shares of Devon Energy in the second quarter valued at approximately $25,000. PFS Partners LLC purchased a new stake in Devon Energy in the 3rd quarter valued at $25,000. First Horizon Corp acquired a new stake in shares of Devon Energy in the 3rd quarter worth $26,000. Accredited Wealth Management LLC raised its holdings in shares of Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares during the period. Finally, Ameriflex Group Inc. raised its holdings in shares of Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

About Devon Energy

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.