Devon Energy Corporation (NYSE:DVN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Devon Energy Corporation (NYSE:DVN) have received an average rating of “Moderate Buy” from the thirty analysts that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $49.3704.

Several analysts have recently commented on DVN shares. Sanford C. Bernstein decreased their price objective on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Mizuho increased their price target on Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wolfe Research boosted their price objective on Devon Energy from $58.00 to $64.00 in a research report on Monday, March 9th. Barclays increased their target price on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Benchmark reissued a “buy” rating on shares of Devon Energy in a report on Friday, January 16th.

Key Devon Energy News

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Multiple analyst upgrades and a fresh “buy” from Barclays lifted sentiment, helping push the stock to a new 52?week high and fueling recent inflows. Read More.
• Positive Sentiment: Devon is on a multi?session winning streak (now seven sessions), reflecting momentum trading and growing investor appetite for U.S. producers amid geopolitical oil tightness. This streak is cited across coverage and has materially increased market cap. Read More.
• Positive Sentiment: Macro/oil outlook pieces argue that sustained elevated crude prices would disproportionately boost free cash flow at well?managed producers like Devon, supporting buybacks/dividends and valuation expansion. That bullish commodity narrative is underpinning recent upgrades. Read More.
• Neutral Sentiment: Coverage notes Devon has risen ~8.4% since the last earnings report and analysts are re?checking estimates — this explains part of the run but flags that further gains will depend on sustainment of oil prices and execution. Read More.
• Neutral Sentiment: Some research houses (e.g., TD Cowen) are keeping non?committal stances (hold), showing not all Street views are uniformly bullish; that leaves room for mixed trading on any oil price or operational surprise. Read More.
• Negative Sentiment: Coverage reminding investors that lower oil prices would reverse the rally — some pieces outline scenarios where falling crude would hurt producers’ leverage and cash flow, creating downside risk if the oil rally fades. Read More.

Institutional Trading of Devon Energy

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in shares of Devon Energy by 2,108.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock valued at $233,953,000 after purchasing an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after purchasing an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC lifted its position in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after buying an additional 3,195,862 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Devon Energy by 78.7% in the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after buying an additional 2,802,137 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Devon Energy by 608.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock valued at $98,721,000 after buying an additional 2,314,843 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.3%

Shares of NYSE:DVN opened at $48.81 on Friday. The stock has a 50 day moving average of $42.24 and a 200 day moving average of $37.56. The company has a market cap of $30.26 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. Devon Energy has a 12-month low of $25.89 and a 12-month high of $49.83. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. As a group, equities research analysts expect that Devon Energy will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Devon Energy’s dividend payout ratio is currently 23.02%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.