Devon Energy (DVN) – Research Analysts’ Recent Ratings Changes

Devon Energy (NYSE: DVN) recently received a number of ratings updates from brokerages and research firms:

  • 5/9/2022 – Devon Energy had its price target raised by analysts at Raymond James from $85.00 to $90.00.
  • 5/4/2022 – Devon Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/4/2022 – Devon Energy had its price target raised by analysts at Truist Financial Co. from $91.00 to $100.00.
  • 4/26/2022 – Devon Energy was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/25/2022 – Devon Energy had its price target raised by analysts at Raymond James from $70.00 to $85.00. They now have a “strong-buy” rating on the stock.
  • 4/25/2022 – Devon Energy had its price target raised by analysts at Susquehanna Bancshares, Inc. from $62.00 to $73.00.
  • 4/25/2022 – Devon Energy had its price target raised by analysts at Susquehanna from $62.00 to $73.00.
  • 4/22/2022 – Devon Energy had its price target raised by analysts at Morgan Stanley from $54.00 to $68.00. They now have an “equal weight” rating on the stock.
  • 4/21/2022 – Devon Energy had its price target raised by analysts at Truist Financial Co. from $80.00 to $91.00.
  • 4/14/2022 – Devon Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/7/2022 – Devon Energy had its price target raised by analysts at Piper Sandler from $67.00 to $80.00. They now have an “overweight” rating on the stock.
  • 3/31/2022 – Devon Energy is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/31/2022 – Devon Energy had its price target raised by analysts at Mizuho from $61.00 to $89.00. They now have a “buy” rating on the stock.
  • 3/23/2022 – Devon Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/18/2022 – Devon Energy had its price target raised by analysts at Barclays PLC from $51.00 to $73.00.
  • 3/14/2022 – Devon Energy had its price target raised by analysts at Wells Fargo & Company from $53.00 to $73.00. They now have an “overweight” rating on the stock.
  • 3/11/2022 – Devon Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

DVN traded up $1.74 during midday trading on Tuesday, hitting $63.76. The company had a trading volume of 12,765,118 shares, compared to its average volume of 13,076,466. Devon Energy Co. has a 52 week low of $24.05 and a 52 week high of $69.75. The company has a quick ratio of 1.38, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $42.08 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.17 and a beta of 2.61. The stock’s 50 day moving average price is $60.31 and its 200 day moving average price is $51.38.

Devon Energy (NYSE:DVNGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The energy company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.13. Devon Energy had a net margin of 25.69% and a return on equity of 36.57%. During the same period in the prior year, the company earned $0.45 earnings per share. Research analysts predict that Devon Energy Co. will post 8.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be paid a $1.27 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $1.00. This represents a $5.08 annualized dividend and a yield of 7.97%. The ex-dividend date is Friday, June 10th. Devon Energy’s payout ratio is 75.05%.

In related news, EVP Dennis C. Cameron sold 19,580 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $68.22, for a total transaction of $1,335,747.60. Following the completion of the sale, the executive vice president now owns 274,806 shares in the company, valued at $18,747,265.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dennis C. Cameron sold 8,626 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $53.68, for a total value of $463,043.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,880 shares of company stock valued at $11,779,273. 0.80% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC bought a new position in Devon Energy during the fourth quarter valued at about $25,000. Zullo Investment Group Inc. bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $25,000. WASHINGTON TRUST Co purchased a new stake in shares of Devon Energy during the 1st quarter worth approximately $26,000. JNBA Financial Advisors raised its stake in shares of Devon Energy by 274.4% in the first quarter. JNBA Financial Advisors now owns 498 shares of the energy company’s stock valued at $29,000 after buying an additional 365 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of Devon Energy during the 1st quarter valued at $30,000. 87.01% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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