Devon Energy (NYSE:DVN) Given New $50.00 Price Target at Siebert Williams Shank

Devon Energy (NYSE:DVN) had its price objective boosted by Siebert Williams Shank from $46.00 to $50.00 in a report issued on Monday morning,MarketScreener reports. Siebert Williams Shank currently has a buy rating on the energy company’s stock.

A number of other equities research analysts have also weighed in on DVN. Barclays boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. UBS Group upgraded shares of Devon Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 12th. Morgan Stanley cut their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday. Argus raised Devon Energy to a “strong-buy” rating in a research note on Wednesday, November 26th. Finally, Piper Sandler decreased their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.55.

Devon Energy Price Performance

DVN opened at $38.63 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $24.23 billion, a P/E ratio of 9.09, a PEG ratio of 3.50 and a beta of 0.60. The stock has a 50-day moving average price of $36.64 and a 200-day moving average price of $34.84. Devon Energy has a 12-month low of $25.89 and a 12-month high of $39.38.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to the consensus estimate 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 company posted $1.10 EPS. Equities analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

Hedge Funds Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aprio Wealth Management LLC boosted its holdings in Devon Energy by 4.1% in the third quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock valued at $264,000 after acquiring an additional 297 shares in the last quarter. Accredited Wealth Management LLC lifted its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares during the period. Lindenwold Advisors INC boosted its stake in shares of Devon Energy by 1.2% during the 3rd quarter. Lindenwold Advisors INC now owns 27,094 shares of the energy company’s stock valued at $950,000 after purchasing an additional 314 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Devon Energy by 2.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock valued at $442,000 after purchasing an additional 318 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. Institutional investors own 69.72% of the company’s stock.

About Devon Energy

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.