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

Devon Energy (NYSE:DVN) had its target price upped by Susquehanna from $52.00 to $57.00 in a research report report published on Tuesday,MarketScreener reports. They currently have a positive rating on the energy company’s stock.

DVN has been the topic of a number of other research reports. Truist Financial started coverage on shares of Devon Energy in a report on Tuesday, March 24th. They issued a “buy” rating and a $63.00 price target on the stock. TD Cowen lifted their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Roth Mkm restated a “buy” rating and set a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Zacks Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings upgraded shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

Devon Energy Stock Up 1.6%

Shares of DVN opened at $45.64 on Tuesday. The firm has a market cap of $28.36 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47. The company’s fifty day moving average is $46.44 and its two-hundred day moving average is $39.75. Devon Energy has a fifty-two week low of $29.70 and a fifty-two week high of $52.71. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. Devon Energy’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.10 EPS. Analysts forecast that Devon Energy will post 4.94 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.24 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Devon Energy’s payout ratio is currently 23.02%.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Devon Energy in the 4th quarter worth about $25,000. PFS Partners LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth about $25,000. First Horizon Corp bought a new stake in shares of Devon Energy in the 3rd quarter worth about $26,000. MV Capital Management Inc. bought a new stake in shares of Devon Energy during the 4th quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $29,000. Institutional investors own 69.72% of the company’s stock.

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.