Devon Energy (NYSE:DVN) PT Lowered to $47.00

Devon Energy (NYSE:DVN) had its target price cut by investment analysts at UBS Group from $53.00 to $47.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. UBS Group’s price objective would indicate a potential upside of 14.72% from the stock’s previous close.

Several other research firms have also issued reports on DVN. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Piper Sandler decreased their price target on Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley decreased their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Susquehanna dropped their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Six 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 has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Devon Energy Trading Up 1.5 %

Shares of NYSE:DVN opened at $40.97 on Wednesday. The firm has a fifty day moving average of $44.28 and a two-hundred day moving average of $47.35. The firm has a market capitalization of $25.89 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03. Devon Energy has a 12-month low of $39.02 and a 12-month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. On average, equities analysts expect that Devon Energy will post 5.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors have recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the first quarter worth about $30,000. Jones Financial Companies Lllp raised its position in Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after purchasing an additional 374 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the second quarter worth about $34,000. Finally, PSI Advisors LLC raised its position in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

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.