Barclays Issues Positive Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its target price raised by Barclays from $40.00 to $42.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. Barclays currently has an equal weight rating on the energy company’s stock.

A number of other research analysts have also commented on DVN. Wolfe Research cut their price target on Devon Energy from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Johnson Rice cut their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Scotiabank lowered shares of Devon Energy from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $47.00 to $41.00 in a research report on Thursday, January 15th. The Goldman Sachs Group boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Citigroup increased their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Devon Energy Trading Up 4.0%

Shares of NYSE:DVN opened at $37.74 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The stock’s 50-day moving average is $36.46 and its 200-day moving average is $34.75. The company has a market cap of $23.68 billion, a P/E ratio of 8.88, a P/E/G ratio of 3.23 and a beta of 0.60. Devon Energy has a 52-week low of $25.89 and a 52-week high of $38.88.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the previous year, the firm earned $1.10 EPS. Equities research analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

Institutional Investors Weigh In On Devon Energy

Large investors have recently modified their holdings of the stock. Aprio Wealth Management LLC raised its holdings in Devon Energy by 4.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock valued at $264,000 after buying an additional 297 shares during the period. Accredited Wealth Management LLC boosted its stake in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the period. Lindenwold Advisors INC increased its position in shares of Devon Energy by 1.2% during the third quarter. Lindenwold Advisors INC now owns 27,094 shares of the energy company’s stock valued at $950,000 after acquiring an additional 314 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Devon Energy by 2.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock valued at $442,000 after acquiring an additional 318 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after acquiring an additional 321 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.