Susquehanna Issues Positive Forecast for Devon Energy (NYSE:DVN) Stock Price

Devon Energy (NYSE:DVN) had its target price raised by Susquehanna from $50.00 to $52.00 in a research report report published on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the energy company’s stock.

Other equities analysts have also issued reports about the stock. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Cowen lowered shares of Devon Energy to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. TD Cowen dropped their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

Devon Energy Stock Down 2.8 %

Shares of NYSE:DVN opened at $37.49 on Thursday. The firm’s 50 day moving average price is $34.47 and its 200 day moving average price is $38.35. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy has a fifty-two week low of $30.39 and a fifty-two week 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.

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

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 19.30%.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hurley Capital LLC acquired a new stake in Devon Energy in the fourth quarter valued at $26,000. Accredited Wealth Management LLC acquired a new position in shares of Devon Energy during the 4th quarter worth $28,000. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter worth $35,000. Cromwell Holdings LLC raised its stake in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of Devon Energy during the 4th quarter worth $43,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

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.