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

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

Other equities research analysts have also issued research reports about the stock. Piper Sandler upped their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Cowen lowered shares of Devon Energy to a “hold” rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Tuesday. Citigroup reduced their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Barclays increased their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

Devon Energy Stock Up 2.7 %

Devon Energy stock traded up $1.02 during mid-day trading on Thursday, reaching $38.59. The stock had a trading volume of 4,756,844 shares, compared to its average volume of 9,531,125. Devon Energy has a one year low of $30.39 and a one year high of $55.09. The company has a 50-day moving average price of $34.31 and a two-hundred day moving average price of $38.40. 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 company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.09 and a beta of 1.98.

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

Institutional Trading of Devon Energy

A number of large investors have recently made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy in the 3rd quarter worth about $461,857,000. EnCap Partners GP LLC bought a new position in Devon Energy in the 3rd quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. bought a new stake in shares of Devon Energy during the third quarter valued at approximately $230,928,000. Vanguard Group Inc. boosted its holdings in shares of Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Devon Energy in the fourth quarter worth approximately $154,170,000. 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.