Devon Energy (NYSE:DVN – Get Free Report) had its target price lowered by equities research analysts at Truist Financial from $69.00 to $67.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target points to a potential upside of 32.57% from the stock’s current price.
Several other equities analysts have also recently issued reports on the stock. UBS Group upped their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Mizuho raised their target price on Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $46.00 to $59.00 in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.44.
View Our Latest Analysis on Devon Energy
Devon Energy Trading Up 0.4 %
NYSE DVN opened at $50.54 on Friday. The company has a market cap of $32.09 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16. Devon Energy has a twelve month low of $40.47 and a twelve month high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $49.62 and its 200 day moving average is $46.31.
Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Devon Energy will post 5.28 EPS for the current fiscal year.
Institutional Trading of Devon Energy
Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Devon Energy by 1,279.7% in the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after acquiring an additional 5,700,167 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Devon Energy in the 3rd quarter worth $113,793,000. Morgan Stanley grew its position in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the period. International Assets Investment Management LLC increased its stake in Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after purchasing an additional 1,488,374 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
Receive News & Ratings for Devon Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Devon Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
