Devon Energy (NYSE:DVN) Given New $62.00 Price Target at Susquehanna

Devon Energy (NYSE:DVN) had its target price reduced by Susquehanna from $63.00 to $62.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a positive rating on the energy company’s stock.

Several other analysts also recently issued reports on DVN. Sanford C. Bernstein decreased their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Mizuho cut their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Evercore ISI reduced their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley lowered their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Up 0.2 %

DVN stock opened at $40.66 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $25.70 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The firm’s 50-day moving average is $42.15 and its two-hundred day moving average is $46.28. Devon Energy has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.18 EPS. On average, analysts forecast that Devon Energy will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is currently 16.79%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy during the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC grew its holdings in shares of Devon Energy by 66.7% during 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. Finally, LRI Investments LLC bought a new position in shares of Devon Energy in the first quarter worth approximately $39,000. 69.72% of the stock is owned by institutional investors.

About Devon Energy

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.