Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Susquehanna Analyst Says

Devon Energy (NYSE:DVN) had its price objective raised by Susquehanna from $47.00 to $52.00 in a note issued to investors on Friday, MarketBeat reports. The firm presently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective would indicate a potential upside of 17.39% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Wells Fargo & Company increased their target price on shares of Devon Energy from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Wolfe Research lifted their price target on shares of Devon Energy from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday. Sanford C. Bernstein dropped their price objective on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.31.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $44.30 on Friday. The business’s fifty day simple moving average is $38.92 and its 200 day simple moving average is $36.14. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Devon Energy has a 12 month low of $25.89 and a 12 month high of $46.15. The firm has a market capitalization of $27.46 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 4.09 and a beta of 0.61.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. As a group, analysts anticipate that Devon Energy will post 4.85 EPS for the current year.

Hedge Funds Weigh In On Devon Energy

Large investors have recently made changes to their positions in the stock. PFS Partners LLC bought a new stake in shares of Devon Energy during the 3rd quarter valued at $25,000. First Horizon Corp purchased a new position in Devon Energy during the 3rd quarter valued at about $26,000. Caldwell Trust Co purchased a new position in Devon Energy during the 2nd quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy during the fourth quarter valued at about $29,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

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.