Susquehanna Forecasts Strong Price Appreciation for Devon Energy (NYSE:DVN) Stock

Devon Energy (NYSE:DVN) had its price target boosted by equities research analysts at Susquehanna from $52.00 to $57.00 in a report issued on Tuesday,MarketScreener reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s price target would suggest a potential upside of 27.25% from the stock’s previous close.

Several other brokerages have also recently weighed in on DVN. Jefferies Financial Group upped their price objective on shares of Devon Energy from $44.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. TD Cowen lifted their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Benchmark restated a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Devon Energy in a report on Thursday, February 19th. Finally, Morgan Stanley lifted their price objective on Devon Energy from $46.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

Devon Energy Stock Performance

Devon Energy stock opened at $44.80 on Tuesday. The firm has a market capitalization of $27.84 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.80 and a beta of 0.47. The stock has a fifty day moving average price of $46.40 and a two-hundred day moving average price of $39.67. Devon Energy has a 52-week low of $29.70 and a 52-week high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, analysts anticipate that Devon Energy will post 4.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DVN. Tobam boosted its position in Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after buying an additional 230 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after acquiring an additional 236 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after acquiring an additional 254 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Devon Energy by 21.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after acquiring an additional 257 shares during the period. Finally, Zions Bancorporation National Association UT boosted its holdings in Devon Energy by 7.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock valued at $129,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.