Devon Energy (DVN) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Devon Energy (NYSE: DVN) in the last few weeks:

  • 5/25/2022 – Devon Energy was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $73.00 price target on the stock.
  • 5/24/2022 – Devon Energy was downgraded by analysts at Johnson Rice from a “buy” rating to an “accumulate” rating.
  • 5/18/2022 – Devon Energy had its price target raised by analysts at Piper Sandler to $89.00. They now have a “na” rating on the stock.
  • 5/18/2022 – Devon Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $76.00 price target on the stock. According to Zacks, “Devon Energy’s first-quarter earnings were better than expected as stable production and recovery in commodity prices boosted performance. WPX Energy acquisition expanded DVN’s presence in Delaware Basin. The company is using new technology in production process to lower operating expenses. The divestiture of the Canadian and Barnett Shale gas assets will allow DVN to focus on the oil-rich U.S. assets. DVN’s stable free cash flow allows it to buy back shares and distribute dividend. Devon has ample liquidity to meet near-term debt obligations. In the past year, DVN’s shares have outperformed the industry. However, DVN operates in a competitive industry, wherein a few operators are in a secure position due to stronger financial capabilities. Limited control over some joint venture properties and regulations is a headwind.”
  • 5/13/2022 – Devon Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 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.

DVN traded up $1.87 during trading hours on Thursday, hitting $73.81. The stock had a trading volume of 12,860,103 shares, compared to its average volume of 12,875,364. The company’s fifty day simple moving average is $63.06 and its 200 day simple moving average is $53.54. Devon Energy Co. has a 1 year low of $24.05 and a 1 year high of $75.44. The stock has a market cap of $48.71 billion, a PE ratio of 13.85 and a beta of 2.61. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.69.

Devon Energy (NYSE:DVNGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The energy company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. Devon Energy had a return on equity of 36.57% and a net margin of 25.69%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities analysts expect that Devon Energy Co. will post 8.46 EPS for the current year.

The business also recently announced 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. The ex-dividend date is Friday, June 10th. This represents a $5.08 annualized dividend and a yield of 6.88%. This is an increase from Devon Energy’s previous quarterly dividend of $1.00. Devon Energy’s dividend payout ratio (DPR) is currently 75.05%.

In other news, EVP Tana K. Cashion sold 17,455 shares of Devon Energy stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $58.41, for a total transaction of $1,019,546.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey L. Ritenour sold 55,000 shares of Devon Energy stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $58.35, for a total value of $3,209,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,254 shares of company stock valued at $11,316,229. 0.59% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Canton Hathaway LLC purchased a new position in Devon Energy in the 4th quarter worth approximately $25,000. Zullo Investment Group Inc. purchased a new position in Devon Energy in the 4th quarter worth approximately $25,000. WASHINGTON TRUST Co purchased a new position in Devon Energy in the 1st quarter worth approximately $26,000. Canada Pension Plan Investment Board purchased a new position in Devon Energy in the 1st quarter worth approximately $26,000. Finally, JNBA Financial Advisors increased its stake in Devon Energy by 274.4% in the 1st quarter. JNBA Financial Advisors now owns 498 shares of the energy company’s stock worth $29,000 after purchasing an additional 365 shares during the period. Institutional investors own 87.01% of the company’s stock.

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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