Analysts’ Recent Ratings Updates for Devon Energy (DVN)

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

• 11/26/2024 – Devon Energy had its price target lowered by analysts at Citigroup Inc. from $55.00 to $48.00. They now have a “buy” rating on the stock.
• 11/18/2024 – Devon Energy had its price target raised by analysts at Piper Sandler from $56.00 to $57.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Devon Energy was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/7/2024 – Devon Energy had its price target lowered by analysts at Wells Fargo & Company from $50.00 to $49.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Devon Energy was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $43.00 price target on the stock, down previously from $49.00.
• 11/5/2024 – Devon Energy had its price target lowered by analysts at TD Cowen from $54.00 to $46.00. They now have a “hold” rating on the stock.
• 11/5/2024 – Devon Energy had its price target lowered by analysts at Raymond James from $58.00 to $51.00.
• 10/18/2024 – Devon Energy had its “sector outperform” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – Devon Energy had its price target lowered by analysts at Susquehanna from $63.00 to $62.00. They now have a “positive” rating on the stock.
• 10/15/2024 – Devon Energy had its price target lowered by analysts at Piper Sandler from $57.00 to $56.00. They now have an “overweight” rating on the stock.
• 10/15/2024 – Devon Energy had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 10/10/2024 – Devon Energy had its price target lowered by analysts at Scotiabank from $60.00 to $48.00. They now have a “sector outperform” rating on the stock.
• 10/9/2024 – Devon Energy had its price target lowered by analysts at Mizuho from $53.00 to $51.00. They now have an “outperform” rating on the stock.
• 10/4/2024 – Devon Energy had its price target lowered by analysts at BMO Capital Markets from $52.00 to $48.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – Devon Energy is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $45.00 price target on the stock.
• 10/3/2024 – Devon Energy had its price target lowered by analysts at Barclays PLC from $55.00 to $46.00. They now have an “equal weight” rating on the stock.
• 10/1/2024 – Devon Energy had its price target lowered by analysts at Wells Fargo & Company from $55.00 to $50.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Devon Energy had its price target lowered by analysts at Evercore ISI from $55.00 to $50.00. They now have an “in-line” rating on the stock.
• 9/30/2024 – Devon Energy had its price target lowered by analysts at Truist Financial Co. from $60.00 to $49.00. They now have a “buy” rating on the stock.

Devon Energy Price Performance

Shares of DVN opened at $37.71 on Wednesday. The firm has a fifty day simple moving average of $39.91 and a two-hundred day simple moving average of $43.81. The firm has a market cap of $24.77 billion, a PE ratio of 7.00, a P/E/G ratio of 1.25 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1-year low of $37.28 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. Devon Energy’s dividend payout ratio is presently 16.33%.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC increased its stake in Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after acquiring an additional 223 shares during the last quarter. Versant Capital Management Inc raised its stake in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares in the last quarter. Archer Investment Corp lifted its position in Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Devon Energy by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock worth $476,000 after buying an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in shares of Devon Energy by 4.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after buying an additional 237 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

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.