Devon Energy (NYSE:DVN - Get Free Report) had its price target raised by stock analysts at Morgan Stanley from $42.00 to $44.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy company's stock. Morgan Stanley's price target would suggest a potential upside of 42.00% from the company's current price.
DVN has been the subject of several other reports. Truist Financial boosted their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price target on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Raymond James set a $40.00 price objective on Devon Energy in a research note on Monday, April 21st. Susquehanna decreased their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America lowered their target price on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.
Get Our Latest Stock Analysis on Devon Energy
Devon Energy Price Performance
NYSE DVN traded down $0.15 on Friday, hitting $30.99. The company had a trading volume of 930,650 shares, compared to its average volume of 8,601,054. 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 company's fifty day moving average price is $32.29 and its 200-day moving average price is $34.38. The company has a market capitalization of $19.90 billion, a PE ratio of 6.79, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy has a 12-month low of $25.89 and a 12-month high of $49.35.
Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business earned $1.16 EPS. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, analysts predict that Devon Energy will post 4.85 earnings per share for the current year.
Hedge Funds Weigh In On Devon Energy
A number of hedge funds have recently modified their holdings of DVN. Geneos Wealth Management Inc. boosted its stake in Devon Energy by 4.9% during the first quarter. Geneos Wealth Management Inc. now owns 9,931 shares of the energy company's stock worth $371,000 after buying an additional 465 shares during the period. Belpointe Asset Management LLC boosted its position in shares of Devon Energy by 206.3% during the 1st quarter. Belpointe Asset Management LLC now owns 51,025 shares of the energy company's stock worth $1,908,000 after purchasing an additional 34,369 shares during the period. Focus Partners Wealth boosted its position in shares of Devon Energy by 7.9% during the 1st quarter. Focus Partners Wealth now owns 162,446 shares of the energy company's stock worth $6,076,000 after purchasing an additional 11,850 shares during the period. Integrity Alliance LLC. increased its holdings in Devon Energy by 25.1% in the 1st quarter. Integrity Alliance LLC. now owns 10,335 shares of the energy company's stock valued at $387,000 after purchasing an additional 2,075 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Devon Energy in the first quarter valued at approximately $84,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
About Devon Energy
(
Get Free Report)
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.
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