Devon Energy (NYSE:DVN) Releases Earnings Results, Beats Estimates By $0.16 EPS

Devon Energy (NYSE:DVN) posted its quarterly earnings results on Tuesday. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16, Zacks reports. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%.

Devon Energy Trading Up 1.0 %

Shares of Devon Energy stock traded up $0.34 during trading on Tuesday, hitting $34.98. The stock had a trading volume of 10,217,967 shares, compared to its average volume of 9,296,485. The stock has a 50 day simple moving average of $34.26 and a 200 day simple moving average of $38.41. The company has a market capitalization of $22.98 billion, a PE ratio of 6.49, a P/E/G ratio of 1.04 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy has a 1 year low of $30.39 and a 1 year high of $55.09.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Raymond James boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Citigroup dropped their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.26.

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.