Susquehanna Issues Positive Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its target price hoisted by analysts at Susquehanna from $47.00 to $52.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective suggests a potential upside of 17.48% from the company’s previous close.

Other research analysts have also issued research reports about the company. Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Barclays raised Devon Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $50.00 in a research report on Wednesday, February 4th. Argus raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. BMO Capital Markets cut their target price on Devon Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Finally, Citigroup increased their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.31.

Devon Energy Stock Performance

NYSE DVN traded down $0.40 on Friday, reaching $44.26. The stock had a trading volume of 836,410 shares, compared to its average volume of 11,038,741. Devon Energy has a 12-month low of $25.89 and a 12-month high of $46.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a market cap of $27.77 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 4.04 and a beta of 0.61. The business’s 50-day moving average price is $38.78 and its 200 day moving average price is $36.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the firm posted $1.10 EPS. Devon Energy’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Trading of Devon Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its stake in Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after buying an additional 236 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after purchasing an additional 254 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Devon Energy by 21.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock worth $54,000 after acquiring an additional 257 shares during the period. Zions Bancorporation National Association UT boosted its holdings in Devon Energy by 7.9% during the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock valued at $129,000 after purchasing an additional 258 shares in the last quarter. Finally, Michels Family Financial LLC grew its position in Devon Energy by 2.5% in the fourth quarter. Michels Family Financial LLC now owns 11,098 shares of the energy company’s stock valued at $407,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds 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.