Devon Energy (NYSE:DVN) Given New $52.00 Price Target at Susquehanna

Devon Energy (NYSE:DVN) had its price target raised by stock analysts at Susquehanna from $50.00 to $52.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the energy company’s stock. Susquehanna’s target price points to a potential upside of 34.74% from the company’s current price.

Several other brokerages have also recently issued reports on DVN. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Raymond James upped their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Friday, January 3rd. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Thursday. Finally, Barclays upped their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Price Performance

Shares of NYSE:DVN traded up $1.02 during midday trading on Thursday, hitting $38.59. The stock had a trading volume of 4,756,844 shares, compared to its average volume of 9,531,125. The company’s 50-day moving average price is $34.31 and its 200-day moving average price is $38.40. The company has a market capitalization of $25.35 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 23.17%. As a group, equities research analysts predict that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

Several hedge funds have recently bought and sold shares of DVN. Creative Planning lifted its position in Devon Energy by 33.6% during the third quarter. Creative Planning now owns 132,206 shares of the energy company’s stock valued at $5,172,000 after purchasing an additional 33,249 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Devon Energy by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the energy company’s stock valued at $1,397,000 after purchasing an additional 1,564 shares during the last quarter. Leo Wealth LLC bought a new stake in Devon Energy during the third quarter valued at approximately $202,000. Private Advisor Group LLC raised its stake in shares of Devon Energy by 15.1% during the third quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company’s stock worth $3,764,000 after acquiring an additional 12,607 shares in the last quarter. Finally, Courier Capital LLC raised its stake in shares of Devon Energy by 6.6% during the third quarter. Courier Capital LLC now owns 17,305 shares of the energy company’s stock worth $677,000 after acquiring an additional 1,079 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.