Devon Energy (NYSE:DVN) Given New $52.00 Price Target at Susquehanna

Devon Energy (NYSE:DVN) had its target price upped by Susquehanna from $47.00 to $52.00 in a research note released on Friday morning, MarketBeat reports. Susquehanna currently has a positive rating on the energy company’s stock.

A number of other research firms have also weighed in on DVN. JPMorgan Chase & Co. lowered their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Scotiabank lifted their price target on Devon Energy from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Morgan Stanley lowered their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Siebert Williams Shank upped their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Zacks Research downgraded shares of Devon Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.31.

Devon Energy Stock Down 0.8%

Shares of NYSE DVN opened at $44.30 on Friday. The stock has a market cap of $27.46 billion, a PE ratio of 10.62, a P/E/G ratio of 4.12 and a beta of 0.61. The company has a current ratio of 0.98, 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 $46.15. The company has a 50-day moving average of $38.92 and a 200 day moving average of $36.12.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. As a group, sell-side analysts predict that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its holdings in Devon Energy by 4.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after buying an additional 33,974 shares in the last quarter. Greatmark Investment Partners Inc. increased its position in shares of Devon Energy by 5.6% during the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after acquiring an additional 30,435 shares during the period. Canada Post Corp Registered Pension Plan raised its stake in shares of Devon Energy by 298.1% in the third quarter. Canada Post Corp Registered Pension Plan now owns 42,351 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 31,713 shares in the last quarter. Natixis boosted its holdings in Devon Energy by 101.4% in the second quarter. Natixis now owns 73,902 shares of the energy company’s stock valued at $2,351,000 after purchasing an additional 37,211 shares during the period. Finally, RPG Investment Advisory LLC boosted its holdings in Devon Energy by 11.0% in the third quarter. RPG Investment Advisory LLC now owns 287,110 shares of the energy company’s stock valued at $10,063,000 after purchasing an additional 28,532 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.