Devon Energy (NYSE:DVN) Posts Earnings Results, Beats Expectations By $0.16 EPS

Devon Energy (NYSE:DVN) announced its quarterly earnings results on Tuesday. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16, Zacks reports. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%.

Devon Energy Stock Up 1.0 %

Devon Energy stock opened at $34.98 on Wednesday. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market capitalization of $22.98 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 1.08 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $38.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DVN shares. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Piper Sandler raised their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Citigroup decreased their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.26.

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.