Devon Energy Co. (NYSE:DVN) Receives $49.45 Average Target Price from Brokerages

Shares of Devon Energy Co. (NYSE:DVN) have earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $49.45.

A number of analysts have commented on DVN shares. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Citigroup lowered their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th.

Institutional Trading of Devon Energy

A number of institutional investors have recently modified their holdings of DVN. Riversedge Advisors LLC boosted its holdings in shares of Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after acquiring an additional 253 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Sfmg LLC boosted its stake in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares during the period. Redwood Wealth Management Group LLC grew its holdings in Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Devon Energy by 0.7% during the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after buying an additional 310 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 3.3 %

Shares of NYSE:DVN opened at $34.24 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy has a 52-week low of $30.39 and a 52-week high of $55.09. The business’s 50 day simple moving average is $34.41 and its two-hundred day simple moving average is $38.87. The firm has a market cap of $22.49 billion, a P/E ratio of 6.35, a PEG ratio of 1.04 and a beta of 1.98.

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.