Susquehanna Increases Devon Energy (NYSE:DVN) Price Target to $52.00

Devon Energy (NYSE:DVN) had its target price upped by Susquehanna from $50.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s target price indicates a potential upside of 38.72% from the stock’s previous close.

DVN has been the topic of several other research reports. Barclays upped their price objective on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $48.83.

Devon Energy Stock Performance

DVN stock opened at $37.49 on Thursday. The firm has a market cap of $24.62 billion, a PE ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $34.47 and a 200-day moving average of $38.37. Devon Energy has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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 the consensus estimate of $4.25 billion. As a group, sell-side analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DVN. Vanguard Group Inc. raised its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC raised its position in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock valued at $552,830,000 after purchasing an additional 1,038,305 shares in the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy during the third quarter valued at about $461,857,000. Pacer Advisors Inc. raised its position in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. Finally, EnCap Partners GP LLC purchased a new stake in Devon Energy during the third quarter valued at about $408,653,000. 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.