Devon Energy (NYSE:DVN) Stock Price Expected to Rise, Siebert Williams Shank Analyst Says

by · The Cerbat Gem

Devon Energy (NYSE:DVN – Get Free Report) had its price objective increased by analysts at Siebert Williams Shank from $46.00 to $50.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the energy company’s stock. Siebert Williams Shank’s price target points to a potential upside of 29.90% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Susquehanna upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Morgan Stanley decreased their price objective on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Citigroup boosted their target price on Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.45.

View Our Latest Report on Devon Energy

Devon Energy Price Performance

Shares of NYSE:DVN traded down $0.15 during trading on Monday, hitting $38.49. 875,104 shares of the company’s stock were exchanged, compared to its average volume of 9,795,493. The business’s 50-day simple moving average is $36.57 and its 200 day simple moving average is $34.81. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 3.50 and a beta of 0.60. Devon Energy has a 52-week low of $25.89 and a 52-week high of $39.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87.

Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same period in the previous year, the firm posted $1.10 EPS. As a group, equities analysts predict that Devon Energy will post 4.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caldwell Trust Co bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $25,000. PFS Partners LLC bought a new position in Devon Energy in the third quarter worth approximately $25,000. First Horizon Corp purchased a new stake in Devon Energy during the third quarter worth $26,000. Accredited Wealth Management LLC lifted its holdings in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the period. Finally, Ameriflex Group Inc. boosted its position in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

About Devon Energy

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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.

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