Barclays Forecasts Strong Price Appreciation for Devon Energy (NYSE:DVN) Stock

Devon Energy (NYSE:DVN) had its price target boosted by Barclays from $52.00 to $54.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Barclays‘s price objective suggests a potential upside of 13.97% from the company’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Siebert Williams Shank increased their price target on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. decreased 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. Citigroup upped their target price on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Benchmark reiterated a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.37.

Devon Energy Price Performance

Shares of DVN opened at $47.38 on Monday. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 4.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy has a 1 year low of $25.89 and a 1 year high of $47.50. The business has a 50-day moving average of $41.72 and a 200-day moving average of $37.41.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of Devon Energy by 2,108.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after acquiring an additional 6,097,658 shares during the period. Panagora Asset Management Inc. raised its stake in Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after buying an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC raised its stake in Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after buying an additional 3,195,862 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Devon Energy by 78.7% in the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after acquiring an additional 2,802,137 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Devon Energy by 608.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock worth $98,721,000 after purchasing an additional 2,314,843 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy News Roundup

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Mizuho raised its price target to $62 and put an “outperform” rating on DVN — a large upside that signals stronger analyst conviction and likely increased buy interest. Read More.
• Positive Sentiment: Barclays raised its target to $54 and set an “overweight” rating, another vote of confidence from a major shop that supports upside vs. current levels. Read More.
• Positive Sentiment: Sector momentum: coverage highlights that rising crude prices (geopolitical risk around Iran) are benefiting top oil & gas names including Devon, lifting sentiment across the group. Read More.
• Positive Sentiment: Barron’s lists Devon as one of three “underappreciated” energy stocks to play an oil upswing, reinforcing institutional interest from value/contrarian investors. Read More.
• Positive Sentiment: The Motley Fool highlights Devon’s durable shareholder-return profile (low costs, FCF, pending Coterra merger) — fundamental reasons investors may bid the stock higher for yield and buyback upside. Read More.
• Positive Sentiment: Zacks notes Devon as a trending/market-beaten-upstock and reports a recent session gain, reflecting short-term retail/institutional attention. Read More.
• Neutral Sentiment: TD Cowen nudged its target to $50 but kept a “hold” rating (only modest upside), so this is less directional than the larger upgrades. Read More.
• Neutral Sentiment: Zacks and Yahoo Finance pieces reviewing Q4/peer comparisons and “trending” status provide context on fundamentals and peer-relative performance but contain no new catalyst. Read More. · Read More.

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.