Devon Energy (NYSE:DVN) PT Lowered to $63.00 at Susquehanna

Devon Energy (NYSE:DVN - Get Free Report) had its price objective decreased by stock analysts at Susquehanna from $65.00 to $63.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "positive" rating on the energy company's stock. Susquehanna's price target suggests a potential upside of 49.15% from the stock's current price.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $62.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, July 8th. Truist Financial lowered their price objective on Devon Energy from $67.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. StockNews.com downgraded Devon Energy from a "buy" rating to a "hold" rating in a research report on Monday. BMO Capital Markets upgraded Devon Energy to a "strong-buy" rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Devon Energy from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.63.

Devon Energy Price Performance

NYSE:DVN traded down $0.78 during trading hours on Wednesday, reaching $42.24. 6,279,482 shares of the company traded hands, compared to its average volume of 7,082,376. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The firm's 50-day moving average is $45.61 and its 200-day moving average is $47.59. The stock has a market cap of $26.45 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.26 and a beta of 2.07. Devon Energy has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. Equities research analysts expect that Devon Energy will post 5.37 earnings per share for the current fiscal year.

Institutional Trading of Devon Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in Devon Energy during the fourth quarter worth $791,000. Wahed Invest LLC raised its stake in Devon Energy by 6.3% during the 4th quarter. Wahed Invest LLC now owns 10,944 shares of the energy company's stock valued at $496,000 after acquiring an additional 648 shares in the last quarter. Tradewinds Capital Management LLC acquired a new position in Devon Energy during the 1st quarter worth $30,000. MCF Advisors LLC grew its stake in shares of Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company's stock worth $202,000 after purchasing an additional 215 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Devon Energy during the fourth quarter valued at $702,000. 69.72% of the stock is owned by institutional investors and hedge funds.

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.