Devon Energy (NYSE:DVN – Get Free Report) had its price target boosted by Truist Financial from $66.00 to $69.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target would suggest a potential upside of 32.36% from the company’s current price.
Several other research analysts have also issued reports on the stock. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup lifted their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Stifel Nicolaus lowered their price objective on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.28.
Devon Energy Trading Up 0.6 %
NYSE:DVN traded up $0.30 during mid-day trading on Monday, hitting $52.13. 6,360,804 shares of the company’s stock were exchanged, compared to its average volume of 7,983,791. The company has a 50 day simple moving average of $47.89 and a 200-day simple moving average of $45.92. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. Devon Energy has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The firm has a market capitalization of $33.10 billion, a P/E ratio of 8.95 and a beta of 2.19.
Devon Energy (NYSE:DVN – Get Free Report) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the company earned $1.66 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Devon Energy will post 5.14 earnings per share for the current year.
Institutional Trading of Devon Energy
Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Devon Energy by 76.3% during the 3rd quarter. CWM LLC now owns 26,064 shares of the energy company’s stock valued at $1,243,000 after purchasing an additional 11,279 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Devon Energy during the 3rd quarter valued at $368,000. Avior Wealth Management LLC grew its holdings in shares of Devon Energy by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after purchasing an additional 207 shares during the last quarter. Midwest Financial Group LLC grew its holdings in shares of Devon Energy by 4.3% during the 3rd quarter. Midwest Financial Group LLC now owns 18,260 shares of the energy company’s stock valued at $871,000 after purchasing an additional 760 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Devon Energy by 19.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 18,660 shares of the energy company’s stock valued at $890,000 after purchasing an additional 2,978 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Devon Energy Company Profile
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.