Devon Energy (NYSE:DVN) Given New $44.00 Price Target at Barclays

Devon Energy (NYSE:DVN) had its price target boosted by analysts at Barclays from $43.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the energy company’s stock. Barclays‘s price objective indicates a potential upside of 17.38% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Raymond James lifted their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial lowered their price objective 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. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Cowen downgraded shares of Devon Energy to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.83.

Devon Energy Price Performance

Shares of DVN opened at $37.49 on Thursday. The company has a market cap of $24.62 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.98. Devon Energy has a twelve month low of $30.39 and a twelve month high of $55.09. 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 company has a 50 day moving average of $34.47 and a two-hundred day moving average of $38.37.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DVN. Creative Planning increased its holdings in Devon Energy by 33.6% in the third quarter. Creative Planning now owns 132,206 shares of the energy company’s stock valued at $5,172,000 after buying an additional 33,249 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Devon Energy by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the energy company’s stock worth $1,397,000 after purchasing an additional 1,564 shares in the last quarter. Leo Wealth LLC purchased a new stake in shares of Devon Energy during the third quarter worth about $202,000. Private Advisor Group LLC increased its stake in shares of Devon Energy by 15.1% during the third quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company’s stock worth $3,764,000 after purchasing an additional 12,607 shares in the last quarter. Finally, Courier Capital LLC increased its stake in shares of Devon Energy by 6.6% during the third quarter. Courier Capital LLC now owns 17,305 shares of the energy company’s stock worth $677,000 after purchasing an additional 1,079 shares in the last quarter. Hedge funds and other 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.