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

Devon Energy (NYSE:DVN - Get Free Report) had its price objective upped by equities researchers at Susquehanna from $50.00 to $52.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "positive" rating on the energy company's stock. Susquehanna's target price suggests a potential upside of 38.72% from the company's current price.

Several other analysts have also recently commented on DVN. Truist Financial upped their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a report on Thursday. Cowen cut Devon Energy to a "hold" rating and cut their price target for the stock from $46.00 to $45.00 in a report on Tuesday. JPMorgan Chase & Co. cut Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price target on the stock. in a report on Thursday, December 5th. TD Cowen cut their price target on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.83.

Devon Energy Trading Down 2.8 %

DVN stock traded down $1.07 during trading on Thursday, hitting $37.49. The company had a trading volume of 11,529,242 shares, compared to its average volume of 9,796,612. The business has a 50-day moving average of $34.40 and a 200-day moving average of $38.40. Devon Energy has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $24.62 billion, a PE ratio of 8.22, a PEG ratio of 1.17 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DVN. Creative Planning grew its stake in shares of Devon Energy by 33.6% during the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company's stock worth $5,172,000 after acquiring an additional 33,249 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Devon Energy by 4.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the energy company's stock worth $1,397,000 after acquiring an additional 1,564 shares during the period. Leo Wealth LLC bought a new position in shares of Devon Energy during the 3rd quarter worth $202,000. Private Advisor Group LLC grew its stake in shares of Devon Energy by 15.1% during the 3rd quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company's stock worth $3,764,000 after acquiring an additional 12,607 shares during the period. Finally, Courier Capital LLC grew its stake in shares of Devon Energy by 6.6% during the 3rd quarter. Courier Capital LLC now owns 17,305 shares of the energy company's stock worth $677,000 after acquiring an additional 1,079 shares during the period. Institutional investors own 69.72% of the company's stock.

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.