Brokerages Set Devon Energy Co. (NYSE:DVN) Price Target at $49.45

Devon Energy Co. (NYSE:DVN) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $49.45.

DVN has been the topic of a number of recent research reports. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Piper Sandler raised their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Finally, Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Devon Energy Stock Up 1.3 %

Shares of NYSE:DVN opened at $34.68 on Friday. Devon Energy has a 1-year low of $30.39 and a 1-year high of $55.09. The company’s fifty day moving average is $34.27 and its two-hundred day moving average is $38.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.98.

Institutional Investors Weigh In On Devon Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hurley Capital LLC acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in Devon Energy during the third quarter worth approximately $35,000. Future Financial Wealth Managment LLC acquired a new position in Devon Energy in the third quarter worth approximately $39,000. True Wealth Design LLC increased its holdings in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its position 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 valued at $40,000 after acquiring an additional 598 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

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.