Devon Energy (NYSE:DVN) Price Target Lowered to $38.00 at Barclays

Devon Energy (NYSE:DVN - Get Free Report) had its price objective reduced by Barclays from $44.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the energy company's stock. Barclays's price target points to a potential upside of 21.13% from the stock's current price.

DVN has been the subject of a number of other research reports. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Raymond James set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Benchmark restated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Finally, Piper Sandler lowered their price target on shares of Devon Energy from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

Devon Energy Trading Down 0.3 %

Shares of NYSE:DVN traded down $0.10 during trading hours on Wednesday, hitting $31.37. 5,180,719 shares of the company's stock traded hands, compared to its average volume of 8,524,603. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The business has a fifty day moving average price of $33.56 and a 200-day moving average price of $35.41. Devon Energy has a 1 year low of $25.89 and a 1 year high of $53.20. The firm has a market capitalization of $20.36 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Equities analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Hedge Funds Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently modified their holdings of DVN. Mather Group LLC. lifted its stake in shares of Devon Energy by 193.1% in the first quarter. Mather Group LLC. now owns 4,781 shares of the energy company's stock valued at $179,000 after buying an additional 3,150 shares in the last quarter. Valley National Advisers Inc. lifted its position in Devon Energy by 3.7% in the 1st quarter. Valley National Advisers Inc. now owns 47,762 shares of the energy company's stock valued at $1,786,000 after acquiring an additional 1,719 shares in the last quarter. IRON Financial LLC acquired a new position in Devon Energy during the 1st quarter valued at about $231,000. Amalgamated Bank increased its holdings in Devon Energy by 1.5% during the 1st quarter. Amalgamated Bank now owns 125,294 shares of the energy company's stock worth $4,686,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Essex Financial Services Inc. raised its stake in shares of Devon Energy by 17.4% in the first quarter. Essex Financial Services Inc. now owns 24,995 shares of the energy company's stock worth $935,000 after purchasing an additional 3,704 shares during the last quarter. 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.