Analysts’ Weekly Ratings Changes for Devon Energy (DVN)

Several brokerages have updated their recommendations and price targets on shares of Devon Energy (NYSE: DVN) in the last few weeks:

• 12/16/2024 – Devon Energy had its price target lowered by analysts at Mizuho from $51.00 to $47.00. They now have an “outperform” rating on the stock.
• 12/16/2024 – Devon Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/5/2024 – Devon Energy was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $43.00 price target on the stock.
• 11/26/2024 – Devon Energy had its price target lowered by analysts at Citigroup Inc. from $55.00 to $48.00. They now have a “buy” rating on the stock.
• 11/18/2024 – Devon Energy had its price target raised by analysts at Piper Sandler from $56.00 to $57.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Devon Energy was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/7/2024 – Devon Energy had its price target lowered by analysts at Wells Fargo & Company from $50.00 to $49.00. They now have an “overweight” rating on the stock.
• 11/7/2024 – Devon Energy was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $43.00 price target on the stock, down previously from $49.00.
• 11/5/2024 – Devon Energy had its price target lowered by analysts at TD Cowen from $54.00 to $46.00. They now have a “hold” rating on the stock.
• 11/5/2024 – Devon Energy had its price target lowered by analysts at Raymond James from $58.00 to $51.00.
• 10/18/2024 – Devon Energy had its “sector outperform” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – Devon Energy had its price target lowered by analysts at Susquehanna from $63.00 to $62.00. They now have a “positive” rating on the stock.

Devon Energy Price Performance

NYSE DVN opened at $32.39 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52 week low of $32.39 and a 52 week high of $55.09. The company has a 50-day moving average price of $38.54 and a two-hundred day moving average price of $42.43. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

Institutional Trading of Devon Energy

A number of institutional investors have recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. bought a new stake in Devon Energy during the second quarter valued at about $1,026,000. Legacy Investment Solutions LLC bought a new stake in shares of Devon Energy during the third quarter valued at approximately $8,002,000. Bridgewater Associates LP acquired a new position in shares of Devon Energy in the third quarter valued at $9,426,000. Petrus Trust Company LTA raised its position in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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.