Devon Energy (DVN) Stock Forecast, Price & News

16 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 6 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" DVN shares.
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16 brokerages have issued 12 month price targets for Devon Energy's stock. Their DVN share price forecasts range from $50.00 to $90.00. On average, they anticipate the company's stock price to reach $63.22 in the next year. This suggests a possible upside of 33.1% 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 22.8% and is now trading at $47.50.
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Devon Energy saw a decline in short interest in the month of August. As of August 31st, there was short interest totaling 11,810,000 shares, a decline of 14.7% from the August 15th total of 13,850,000 shares. Based on an average daily trading volume, of 8,060,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.9% of the company's shares are sold short.
View Devon Energy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
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Devon Energy will be holding an earnings conference call on Wednesday, November 8th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Devon Energy Co. (NYSE:DVN) released its earnings results on Tuesday, August, 1st. The energy company reported $1.18 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 37.89% and a net margin of 28.10%. The firm's revenue was down 38.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS.
Read the conference call transcript.

Devon Energy declared a quarterly dividend on Tuesday, August 1st. Shareholders of record on Friday, September 15th will be given a dividend of $0.49 per share on Friday, September 29th. This represents a $1.96 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Thursday, September 14th.
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 (NYSE:DVN) pays an annual dividend of $0.80 per share and currently has a dividend yield of 1.72%. The dividend payout ratio is 10.94%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 12.18% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for DVN.

Devon Energy declared that its board has authorized a share repurchase plan on Monday, May 2nd 2022, which allows the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership 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 retail and institutional investors. Top institutional investors include BlackRock Inc. (8.11%), State Street Corp (6.50%), Geode Capital Management LLC (2.22%), Victory Capital Management Inc. (1.23%), Raymond James & Associates (1.23%) and Bank of New York Mellon Corp (1.15%). 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.

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 $47.50.

Devon Energy (NYSE:DVN) has a market capitalization of $30.43 billion and generates $17.01 billion in revenue each year. The energy company earns $6.02 billion in net income (profit) each year or $7.31 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.