Devon Energy (NYSE:DVN) Stock Gets Price Target Trim from UBS Group

Devon Energy (NYSE:DVN) had its target price lowered by stock analysts at UBS Group from $65.00 to $62.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. UBS Group‘s price target suggests a potential upside of 42.89% from the company’s current price.

A number of other equities research analysts have also weighed in on DVN. Argus reissued a “buy” rating and set a $45.85 target price on shares of Devon Energy in a report on Monday, August 17th. Susquehanna cut their target price on shares of Devon Energy from $63.00 to $60.00 and set a “positive” rating on the stock in a research note on Monday. Truist Financial raised their target price on Devon Energy from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Morgan Stanley cut their target price on Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $60.49.

Devon Energy Price Performance

Shares of DVN traded up $0.99 during midday trading on Tuesday, hitting $43.39. The company’s stock had a trading volume of 8,097,505 shares, compared to its average volume of 12,877,163. Devon Energy has a one year low of $34.11 and a one year high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $48.54 and its two-hundred day simple moving average is $46.07. The stock has a market capitalization of $47.73 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.43.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.57 billion. The firm’s quarterly revenue was up 66.5% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. As a group, equities analysts expect that Devon Energy will post 5.49 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This trade represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Clay M. Gaspar acquired 3,913 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the purchase, the chief executive officer directly owned 619,152 shares in the company, valued at $31,626,284.16. This trade represents a 0.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Devon Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DVN. BlackRock Inc. boosted its position in shares of Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after acquiring an additional 34,871,366 shares during the period. State Street Corp boosted its stake in Devon Energy by 89.8% in the second quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock worth $3,023,767,000 after buying an additional 34,615,088 shares in the last quarter. Wellington Management Group LLP boosted its stake in Devon Energy by 418.3% in the second quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock worth $2,128,905,000 after buying an additional 41,581,435 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Devon Energy during the 2nd quarter valued at $421,226,000. Finally, GQG Partners LLC purchased a new position in shares of Devon Energy in the second quarter worth about $402,558,000. 69.72% of the stock is currently owned by institutional investors.

More Devon Energy News

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

• Positive Sentiment: Devon reported record oil and total production, strong third-quarter cash generation, and accelerated share repurchases. Management’s 2027 plan targets annual free-cash-flow-per-share growth of 5%–10%, supporting the outlook for shareholder returns. Devon Energy Q3 earnings call highlights
• Positive Sentiment: Several analysts remain constructive: JPMorgan raised its price target to $68, and Truist increased its target to $62 while maintaining a Buy rating. Susquehanna’s $60 target also implies upside from the share price cited in the reports. JPMorgan price target report
• Positive Sentiment: A Zacks analysis says DVN is technically oversold after falling 13.4% over four weeks, while analysts have been revising earnings estimates higher. Those factors could help the stock recover, though a reversal is not guaranteed. Zacks analysis of Devon Energy
• Negative Sentiment: Not all target revisions were upward: Morgan Stanley trimmed its target to $64, and Susquehanna cut its target to $60. Both retained favorable ratings, so the changes suggest some caution rather than a clear shift to a bearish view.

Devon Energy Company Profile

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.