Devon Energy (NYSE:DVN – Get Free Report) had its price objective dropped by research analysts at Truist Financial from $69.00 to $66.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective would suggest a potential upside of 23.87% from the stock’s current price.
A number of other equities research analysts have also recently commented on DVN. Stifel Nicolaus reduced their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Devon Energy in a report on Thursday, March 7th. Piper Sandler reduced their price objective on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Raymond James reduced their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Mizuho cut their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $55.94.
View Our Latest Research Report on Devon Energy
Devon Energy Stock Up 1.4 %
NYSE:DVN traded up $0.74 on Friday, hitting $53.28. 7,665,496 shares of the company’s stock were exchanged, compared to its average volume of 8,132,183. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The company has a market cap of $33.83 billion, a P/E ratio of 9.14 and a beta of 2.19. The firm has a 50-day moving average price of $45.67 and a 200-day moving average price of $45.53. Devon Energy has a 52 week low of $40.47 and a 52 week high of $56.19.
Devon Energy (NYSE:DVN – Get Free Report) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts expect that Devon Energy will post 4.74 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in DVN. Coppell Advisory Solutions LLC bought a new position in Devon Energy in the 2nd quarter worth $25,000. Canada Pension Plan Investment Board bought a new position in Devon Energy in the 1st quarter worth $26,000. KB Financial Partners LLC bought a new position in Devon Energy in the 1st quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Devon Energy in the 3rd quarter worth $27,000. Finally, Manchester Capital Management LLC bought a new position in shares of Devon Energy in the 4th quarter worth about $28,000. 69.72% of the stock is currently owned by institutional investors.
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.
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