Devon Energy (NYSE:DVN) Given New $62.00 Price Target at Susquehanna

Devon Energy (NYSE:DVN) had its price objective trimmed by Susquehanna from $63.00 to $62.00 in a research note released on Friday, Benzinga reports. The firm currently has a positive rating on the energy company’s stock.

DVN has been the subject of several other reports. StockNews.com cut Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Piper Sandler lowered their price target on Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Tuesday. BMO Capital Markets lowered their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Barclays decreased their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial cut their price objective on Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy Stock Up 0.2 %

NYSE DVN opened at $40.66 on Friday. The stock has a 50 day moving average price of $42.15 and a 200-day moving average price of $46.32. Devon Energy has a one year low of $37.76 and a one year high of $55.09. The company has a market capitalization of $25.70 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.27 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 earnings per share. As a group, equities analysts predict that Devon Energy will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Hedge Funds Weigh In On Devon Energy

Several large investors have recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy in the second quarter worth $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy in the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the second quarter worth $34,000. PSI Advisors LLC increased its position in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new stake in Devon Energy in the first quarter worth $39,000. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

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.