Devon Energy (DVN) Stock Forecast, Price & News

18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 8 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" DVN shares.
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18 equities research analysts have issued 12 month price targets for Devon Energy's shares. Their DVN share price forecasts range from $49.00 to $90.00. On average, they anticipate the company's stock price to reach $69.53 in the next year. This suggests a possible upside of 43.8% from the stock's current price.
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Devon Energy's stock was trading at $61.51 at the beginning of 2023. Since then, DVN shares have decreased by 21.4% and is now trading at $48.35.
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The company is scheduled to release its next quarterly earnings announcement on Monday, August 7th 2023.
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Devon Energy Co. (NYSE:DVN) posted its quarterly earnings results on Monday, May, 8th. The energy company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.07. The energy company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Devon Energy had a trailing twelve-month return on equity of 47.42% and a net margin of 31.39%. The company's quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share.
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Devon Energy announced a quarterly dividend on Monday, May 8th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.72 per share on Friday, June 30th. This represents a $2.88 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Wednesday, June 14th.
Read our dividend analysis for DVN.

ETFs with the largest weight of Devon Energy (NYSE:DVN) stock in their portfolio include WisdomTree U.S. Value Fund (WTV), Invesco Dynamic Energy Exploration & Production ETF (PXE), iShares U.S. Oil & Gas Exploration & Production ETF (IEO), Invesco S&P 500 Equal Weight Energy ETF (RYE), First Trust Nasdaq Oil & Gas ETF (FTXN), Amplify Natural Resources Dividend Income ETF (NDIV), First Trust Natural Gas ETF (FCG) and Pacer US Cash Cows Growth ETF (BUL).

Devon Energy (NYSE:DVN) pays an annual dividend of $0.80 per share and currently has a dividend yield of 1.65%. The dividend payout ratio is 8.72%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 11.68% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for DVN.

Devon Energy announced that its Board of Directors has approved a share buyback plan on Monday, May 2nd 2022, which authorizes the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is 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 trades on the New York Stock Exchange (NYSE) under the ticker symbol "DVN."

Devon Energy's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.92%), State Street Corp (6.52%), Geode Capital Management LLC (2.16%), FMR LLC (1.56%), Bank of New York Mellon Corp (1.29%) and Raymond James & Associates (1.17%). 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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One share of DVN stock can currently be purchased for approximately $48.35.

Devon Energy (NYSE:DVN) has a market capitalization of $31.62 billion and generates $19.17 billion in revenue each year. The energy company earns $6.02 billion in net income (profit) each year or $9.17 on an earnings per share basis.

The company employs 1,800 workers across the globe.

Devon Energy's mailing address is 333 WEST SHERIDAN AVENUE, OKLAHOMA CITY OK, 73102. The official website for the company is www.devonenergy.com. The energy company can be reached via phone at (405) 235-3611, via email at investor.relations@dvn.com, or via fax at 405-552-4550.