Devon Energy (NYSE:DVN) Given New $35.00 Price Target at UBS Group

Devon Energy (NYSE:DVN) had its target price lowered by stock analysts at UBS Group from $41.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price indicates a potential upside of 22.95% from the company’s previous close.

DVN has been the topic of several other research reports. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Truist Financial increased their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Barclays upped their price target on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Finally, Wells Fargo & Company dropped their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

Devon Energy Price Performance

DVN traded down $0.84 during trading on Monday, reaching $28.47. The stock had a trading volume of 12,949,229 shares, compared to its average volume of 8,220,340. The business has a 50-day moving average of $35.22 and a 200-day moving average of $36.67. Devon Energy has a one year low of $27.31 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market cap of $18.47 billion, a PE ratio of 6.25, a PEG ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities research analysts anticipate that Devon Energy will post 4.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors have recently modified their holdings of DVN. GAMMA Investing LLC lifted its position in shares of Devon Energy by 6,068.1% during the 1st quarter. GAMMA Investing LLC now owns 726,607 shares of the energy company’s stock valued at $27,175,000 after buying an additional 714,827 shares in the last quarter. Sage Capital Advisors llc purchased a new position in Devon Energy during the first quarter valued at $224,000. Versant Capital Management Inc grew its position in shares of Devon Energy by 128.9% in the first quarter. Versant Capital Management Inc now owns 2,635 shares of the energy company’s stock valued at $99,000 after purchasing an additional 1,484 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Devon Energy by 94.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 8,689 shares of the energy company’s stock worth $325,000 after purchasing an additional 4,212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Devon Energy during the fourth quarter worth about $141,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Company Profile

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.