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Devon Energy (DVN) Stock Price, News & Analysis

$44.34
+0.93 (+2.14%)
(As of 01:33 PM ET)
Today's Range
$43.65
$44.63
50-Day Range
$40.69
$46.81
52-Week Range
$40.47
$57.13
Volume
4.09 million shs
Average Volume
8.02 million shs
Market Capitalization
$28.41 billion
P/E Ratio
7.58
Dividend Yield
1.80%
Price Target
$56.65

Devon Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.73 Rating Score
Upside/​Downside
27.7% Upside
$56.65 Price Target
Short Interest
Healthy
2.36% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.69
Upright™ Environmental Score
News Sentiment
1.29mentions of Devon Energy in the last 14 days
Based on 15 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-5.64%
From $5.67 to $5.35 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.92 out of 5 stars

Oils/Energy Sector

8th out of 240 stocks

Crude Petroleum & Natural Gas Industry

2nd out of 74 stocks


DVN stock logo

About Devon Energy Stock (NYSE:DVN)

Devon Energy Corporation is an independent oil and gas company headquartered in Oklahoma City, Oklahoma. The company was incorporated in 1971 by John Nichols and his son J. Larry Nichols and later went public in August 2000. The company has since grown to be included in the S&P 500 and is one of the first energy companies to introduce resolutions requiring the company to monitor its impact on global warming. One time a major player in the global oil market, Devon has since sold off its offshore holdings in an effort to focus on US production and its transition to a lower-carbon future.

Devon Energy merged with WPX in early 2021 in an all-stock merger of equals. The new company is primarily engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids in the US midwest. The company operates more than 5,100 wells in Oklahoma’s Delaware Basis, Eagle Ford Group, and the two locations in the Rocky Mountains. As of late 2022, the company laid claim to 1.625 million barrels of reserves including 44% petroleum, 27% natural gas liquids, and 29% natural gas. Daily production was running in the range of 300,000 BPD in petroleum liquids, 125,000 BPD in natural gas liquids, and 920 million cubic feet of natural gas.

Rick Muncrief, formally CEO of WPX, is now the head of Devon Energy. Mr. Muncrief comes to the table with more than 40 years of experience including 27 years with one of the US Big Three Oil Companies. WPX Energy (Williams Production and Exploration) brought properties in the Williston and Permian Basins to the combined company. Its proven reserves were roughly 527 million barrels of oil and equivalents. The company also owns and operates a midstream network of pipelines and storage facilities it uses to market and deliver its products.

Devon Energy Corporation has pledged to reduce its GHG impact to net zero by 2050. This will be done by a variety of methods that include improving efficiency and leakage, a reduction in flaring, and the electrification of its operations. Near-term goals include a 50% reduction in GHG by 2030 including a 65% reduction in methane release and a 100% reduction in flaring. The company is also focused on reducing its environmental impact by relying on recycled water wherever possible and plans to reduce freshwater usage by 90% in the most active areas. Total greenhouse gas emissions have been in decline since 2018 and fell 17% between 2018 and 2020 alone.

DVN Stock Price History

DVN Stock News Headlines

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Devon Energy (DVN) to Release Earnings on Tuesday
Let's Cover Our Bases With a Devon Energy Trade
Devon Energy Co. (NYSE:DVN) Short Interest Up 6.7% in January
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DVN Mar 2024 30.000 put
Devon Energy in Talks to Buy Enerplus, Reuters Says
DVN Feb 2024 36.000 put
Devon Energy: Accumulating The Dip
Devon Energy: Accumulating The Dip
Devon Energy price target lowered by $2 at Wells Fargo, here's why
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See More Headlines
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Company Calendar

Last Earnings
8/01/2023
Ex-Dividend for 12/29 Dividend
12/14/2023
Dividend Payable
12/29/2023
Today
2/21/2024
Next Earnings (Confirmed)
2/27/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Oil & Gas Exploration & Production
CUSIP
25179M10
Employees
1,800
Year Founded
1971

Price Target and Rating

Average Stock Price Target
$56.65
High Stock Price Target
$75.00
Low Stock Price Target
$48.00
Potential Upside/Downside
+30.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.73
Research Coverage
15 Analysts

Profitability

Net Income
$6.02 billion
Pretax Margin
30.79%

Debt

Sales & Book Value

Annual Sales
$19.17 billion
Cash Flow
$11.73 per share
Book Value
$17.28 per share

Miscellaneous

Free Float
636,664,000
Market Cap
$27.81 billion
Optionable
Optionable
Beta
2.20

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Should I Buy Devon Energy Stock? DVN Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Devon Energy was last updated on Tuesday, February 20, 2024 at 10:18 PM.














DVN Stock Analysis - Frequently Asked Questions

Should I buy or sell Devon Energy stock right now?

15 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 4 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" DVN shares.
View DVN analyst ratings
or view top-rated stocks.

What is Devon Energy's stock price target for 2024?

15 equities research analysts have issued 12 month price targets for Devon Energy's stock. Their DVN share price targets range from $48.00 to $75.00. On average, they anticipate the company's stock price to reach $56.65 in the next year. This suggests a possible upside of 27.7% from the stock's current price.
View analysts price targets for DVN
or view top-rated stocks among Wall Street analysts.

How have DVN shares performed in 2024?

Devon Energy's stock was trading at $45.30 at the beginning of the year. Since then, DVN stock has decreased by 2.1% and is now trading at $44.35.
View the best growth stocks for 2024 here
.

Are investors shorting Devon Energy?

Devon Energy saw a increase in short interest in January. As of January 31st, there was short interest totaling 15,010,000 shares, an increase of 6.7% from the January 15th total of 14,070,000 shares. Based on an average daily volume of 8,940,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.4% of the shares of the stock are sold short.
View Devon Energy's Short Interest
.

When is Devon Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 27th 2024.
View our DVN earnings forecast
.

How can I listen to Devon Energy's earnings call?

Devon Energy will be holding an earnings conference call on Wednesday, February 28th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Devon Energy's earnings last quarter?

Devon Energy Co. (NYSE:DVN) released its earnings results on Tuesday, August, 1st. The energy company reported $1.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.18. The energy company earned $3.45 billion during the quarter, compared to the consensus estimate of $3.26 billion. Devon Energy had a trailing twelve-month return on equity of 33.97% and a net margin of 24.63%. The firm's revenue was down 38.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 EPS.
Read the conference call transcript
.

How often does Devon Energy pay dividends? What is the dividend yield for Devon Energy?

Devon Energy announced a quarterly dividend on Tuesday, November 7th. Stockholders 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 6.94%. The ex-dividend date is Thursday, December 14th. This is an increase from the stock's previous quarterly dividend of $0.49.
Read our dividend analysis for DVN
.

Is Devon Energy a good dividend stock?

Devon Energy (NYSE:DVN) pays an annual dividend of $0.80 per share and currently has a dividend yield of 1.84%. 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 14.95% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for DVN.

How will Devon Energy's stock buyback program work?

Devon Energy announced that its Board of Directors has approved a stock buyback program on Monday, May 2nd 2022, which allows the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

What is John Richels' approval rating as Devon Energy's CEO?

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.

What other stocks do shareholders of Devon Energy own?

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).

Who are Devon Energy's major shareholders?

Devon Energy's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (11.53%), Victory Capital Management Inc. (1.33%), Raymond James & Associates (1.30%), Dimensional Fund Advisors LP (1.10%), Northern Trust Corp (1.02%) and Pacer Advisors Inc. (0.96%). 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.
View institutional ownership trends
.

How do I buy shares of Devon Energy?

Shares of DVN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Devon Energy have any subsidiaries?
The following companies are subsidiares of Devon Energy: Anderson Exploration, Bleu Falcon Holdings Inc., Chief Oil & Gas LLC, Devon Canada Corporation, Devon Energy Corporation, Devon Energy International L.L.C., Devon Energy Production Company L.P., Devon Financing Company L.L.C., Devon Gas Co. L.L.C., Devon Gas Services L.P., Devon Headquarters L.L.C., Devon OEI Holdings L.L.C., Devon OEI Operating L.L.C., Felix Energy LLC, Hondo Oil & Gas Co, Kerr McGee, Mitchell Energy & Development Corp, Northstar Energy Corp, Ocean Energy Inc, PennzEnergy Company, Santa Fe Snyder Corp., and WPX Energy.
Read More
This page (NYSE:DVN) was last updated on 2/21/2024 by MarketBeat.com Staff