Devon Energy (NYSE:DVN) Price Target Raised to $52.00

Devon Energy (NYSE:DVN) had its target price boosted by Susquehanna from $47.00 to $52.00 in a report published on Friday, Marketbeat Ratings reports. They currently have a positive rating on the energy company’s stock.

DVN has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Capital One Financial dropped their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Benchmark reiterated a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Roth Mkm reissued a “buy” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Thursday. Finally, Mizuho set a $51.00 target price on Devon Energy in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.31.

Devon Energy Trading Down 0.8%

Shares of NYSE DVN opened at $44.30 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy has a one year low of $25.89 and a one year high of $46.15. The business has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $36.17. The firm has a market capitalization of $27.46 billion, a PE ratio of 10.62, a PEG ratio of 4.09 and a beta of 0.61.

Devon Energy (NYSE:DVN) last issued its 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 $17.19 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is 23.02%.

Institutional Trading of Devon Energy

Several large investors have recently made changes to their positions in DVN. Caldwell Trust Co acquired a new stake in Devon Energy in the 2nd quarter worth approximately $25,000. PFS Partners LLC acquired a new position in Devon Energy during the third quarter valued at approximately $25,000. First Horizon Corp bought a new position in shares of Devon Energy in the third quarter valued at approximately $26,000. Accredited Wealth Management LLC lifted its stake in shares of Devon Energy by 61.6% in 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 last quarter. Finally, Ameriflex Group Inc. lifted its stake 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 during the last quarter. 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.