Devon Energy Stock Price, News & Analysis (NYSE:DVN)

15 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 6 hold ratings, 8 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" DVN shares.
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15 brokerages have issued twelve-month price objectives for Devon Energy's shares. Their DVN share price targets range from $48.00 to $77.00. On average, they predict the company's share price to reach $57.94 in the next twelve months. This suggests a possible upside of 29.3% from the stock's current price.
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Devon Energy's stock was trading at $61.51 at the start of the year. Since then, DVN stock has decreased by 27.1% and is now trading at $44.82.
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Devon Energy saw a decline in short interest in the month of November. As of November 15th, there was short interest totaling 10,080,000 shares, a decline of 12.3% from the October 31st total of 11,500,000 shares. Based on an average trading volume of 8,870,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.6% of the shares of the stock are sold short.
View Devon Energy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 13th 2024.
View our DVN earnings forecast.

Devon Energy Co. (NYSE:DVN) announced its earnings results on Tuesday, November, 7th. The energy company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The energy company earned $3.84 billion during the quarter, compared to analysts' expectations of $4.03 billion. Devon Energy had a trailing twelve-month return on equity of 33.97% and a net margin of 24.63%.

Devon Energy announced a quarterly dividend on Tuesday, November 7th. Shareholders of record on Friday, December 15th will be given a dividend of $0.77 per share on Friday, December 29th. This represents a $3.08 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Thursday, December 14th. This is a boost from the stock's previous quarterly dividend of $0.49.
Read our dividend analysis for DVN.

Devon Energy (NYSE:DVN) pays an annual dividend of $0.80 per share and currently has a dividend yield of 1.76%. The dividend payout ratio is 13.68%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 11.83% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for DVN.

ETFs with the largest weight of Devon Energy (NYSE:DVN) stock in their portfolio include WBI Power Factor High Dividend ETF (WBIY), iShares U.S. Oil & Gas Exploration & Production ETF (IEO), Invesco S&P 500 Equal Weight Energy ETF (RYE), Invesco S&P 500 Equal Weight Energy ETF (RSPG), First Trust Nasdaq Oil & Gas ETF (FTXN), Pacer US Cash Cows Growth ETF (BUL), BTD Capital Fund (DIP) and AXS Astoria Inflation Sensitive ETF (PPI).

Devon Energy declared that its Board of Directors has authorized a share repurchase program on Monday, May 2nd 2022, which authorizes the company to repurchase $2,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

221 employees have rated Devon Energy Chief Executive Officer John Richels on Glassdoor.com. John Richels has an approval rating of 34% among the company's employees. This puts John Richels in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Devon Energy investors own include Bank of America (BAC), Intel (INTC), Micron Technology (MU), Cisco Systems (CSCO), Pfizer (PFE), Exxon Mobil (XOM), Chevron (CVX), ConocoPhillips (COP), AT&T (T) and General Electric (GE).

Devon Energy's stock is owned by many different retail and institutional investors. Top institutional shareholders include Morgan Stanley (1.82%), Victory Capital Management Inc. (1.32%), Raymond James & Associates (1.32%), Northern Trust Corp (1.06%), Bank of New York Mellon Corp (0.90%) and Fuller & Thaler Asset Management Inc. (0.84%). Insiders that own company stock include Ann G Fox, Clay M Gaspar, Dennis C Cameron, Felix Investments Holdings Ii,, Jeffrey L Ritenour, Jeremy D Humphers, John E Bethancourt, Kelt Kindick, Richard E Muncrief and Tana K Cashion.
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Shares of DVN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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