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

Devon Energy (NYSE:DVN) had its target price upped by Barclays from $43.00 to $44.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

A number of other brokerages have also weighed in on DVN. Citigroup cut their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Piper Sandler lifted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.83.

Devon Energy Trading Up 2.7 %

NYSE:DVN opened at $38.60 on Thursday. The firm’s 50 day moving average is $34.40 and its 200 day moving average is $38.40. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market capitalization of $25.35 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.98. 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 (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 23.17% and a net margin of 18.14%. Sell-side analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is currently 19.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Michels Family Financial LLC purchased a new position in shares of Devon Energy in the 4th quarter worth about $360,000. GF Fund Management CO. LTD. bought a new stake in Devon Energy in the 4th quarter worth approximately $6,513,000. Vise Technologies Inc. boosted its stake in Devon Energy by 56.8% in the fourth quarter. Vise Technologies Inc. now owns 11,806 shares of the energy company’s stock worth $386,000 after buying an additional 4,275 shares in the last quarter. Headinvest LLC grew its position in Devon Energy by 51.7% during the fourth quarter. Headinvest LLC now owns 19,670 shares of the energy company’s stock valued at $644,000 after acquiring an additional 6,700 shares during the last quarter. Finally, Inspire Trust Co. N.A. purchased a new position in shares of Devon Energy during the fourth quarter worth approximately $3,731,000. Institutional investors 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.