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S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Biden signs bill extending a key US surveillance program after divisions nearly forced it to lapse
MarketBeat Week in Review – 4/15 - 4/19
The drug war devastated Black and other minority communities. Is marijuana legalization helping?
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
A man escaped Sudan's bloody civil war. His mysterious death in Missisippi has sparked suspicion
Record Store Day celebrates indie retail music sellers as they ride vinyl's popularity wave
Panama Papers trial's public portion comes to an unexpectedly speedy end
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Biden signs bill extending a key US surveillance program after divisions nearly forced it to lapse
MarketBeat Week in Review – 4/15 - 4/19
The drug war devastated Black and other minority communities. Is marijuana legalization helping?
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
A man escaped Sudan's bloody civil war. His mysterious death in Missisippi has sparked suspicion
Record Store Day celebrates indie retail music sellers as they ride vinyl's popularity wave
Panama Papers trial's public portion comes to an unexpectedly speedy end
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Biden signs bill extending a key US surveillance program after divisions nearly forced it to lapse
MarketBeat Week in Review – 4/15 - 4/19
The drug war devastated Black and other minority communities. Is marijuana legalization helping?
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
A man escaped Sudan's bloody civil war. His mysterious death in Missisippi has sparked suspicion
Record Store Day celebrates indie retail music sellers as they ride vinyl's popularity wave
Panama Papers trial's public portion comes to an unexpectedly speedy end

Devon Energy (DVN) Stock Price, News & Analysis

$51.83
+0.40 (+0.78%)
(As of 04/19/2024 ET)
Today's Range
$51.42
$52.44
50-Day Range
$41.84
$54.51
52-Week Range
$40.47
$55.09
Volume
5.08 million shs
Average Volume
6.87 million shs
Market Capitalization
$32.91 billion
P/E Ratio
8.89
Dividend Yield
1.70%
Price Target
$57.94

Devon Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.76 Rating Score
Upside/​Downside
11.8% Upside
$57.94 Price Target
Short Interest
Healthy
2.44% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.69
Upright™ Environmental Score
News Sentiment
0.96mentions of Devon Energy in the last 14 days
Based on 31 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
9.53%
From $5.14 to $5.63 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.

4.77 out of 5 stars

Oils/Energy Sector

11th out of 233 stocks

Crude Petroleum & Natural Gas Industry

3rd out of 73 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

Piper Sandler Reaffirms Their Buy Rating on Devon Energy (DVN)
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Wells Fargo Reaffirms Their Buy Rating on Devon Energy (DVN)
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A Closer Look at 15 Analyst Recommendations For Devon Energy
Devon Energy (NYSE:DVN) PT Raised to $67.00
Devon Energy (NYSE:DVN) PT Raised to $62.00
Devon Energy (NYSE:DVN) Shares Up 1.6% on Analyst Upgrade
3 Overlooked Stocks That Can Easily Double in 2024
Devon Energy (NYSE:DVN) PT Raised to $57.00 at UBS Group
Barclays Initiates Coverage on Devon Energy (NYSE:DVN)
See More Headlines
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Company Calendar

Last Earnings
2/27/2024
Ex-Dividend for 3/28 Dividend
3/14/2024
Dividend Payable
3/28/2024
Today
4/20/2024
Next Earnings (Confirmed)
5/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Oil & Gas Exploration & Production
CUSIP
25179M10
Employees
1,900
Year Founded
1971

Price Target and Rating

Average Stock Price Target
$57.94
High Stock Price Target
$67.00
Low Stock Price Target
$48.00
Potential Upside/Downside
+11.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.76
Research Coverage
17 Analysts

Profitability

Net Income
$3.75 billion
Pretax Margin
30.30%

Debt

Sales & Book Value

Annual Sales
$15.26 billion
Cash Flow
$9.76 per share
Book Value
$19.07 per share

Miscellaneous

Free Float
631,000,000
Market Cap
$32.91 billion
Optionable
Optionable
Beta
2.19

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

Pros

Here are some ways that investors could benefit from investing in Devon Energy Co.:

  • Devon Energy reported strong quarterly earnings results, surpassing analysts' expectations, indicating financial stability and potential growth.
  • The company has a solid return on equity of 31.72%, showcasing efficient utilization of shareholder funds to generate profits.
  • Devon Energy's dividend payout ratio (DPR) is currently at 15.09%, offering investors a steady income stream through dividends.
  • Recent analyst reports have shown positive sentiment towards Devon Energy, with several analysts giving the stock a "buy" rating, indicating confidence in its future performance.
  • Devon Energy's stock price has the potential for growth, supported by analyst target prices and overall market sentiment.

Cons

Investors should be bearish about investing in Devon Energy Co. for these reasons:

  • Devon Energy's revenue in the recent quarter was down 3.6% year-over-year, indicating a potential decline in business performance.
  • The energy sector, where Devon Energy operates, can be volatile due to fluctuations in commodity prices, posing risks to investment returns.
  • Despite positive analyst sentiment, there is always a level of uncertainty in the market that could impact Devon Energy's stock price unpredictably.
  • Devon Energy recently cut its dividend, which may deter income-focused investors looking for stable dividend payouts.
  • Investing in oil and gas companies like Devon Energy carries environmental and regulatory risks that could affect the company's operations and profitability.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, April 10, 2024. Please send any questions or comments about these Devon Energy pros and cons to contact@marketbeat.com.

DVN Stock Analysis - Frequently Asked Questions

Should I buy or sell Devon Energy stock right now?

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 4 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street 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?

17 analysts have issued 1-year target prices for Devon Energy's stock. Their DVN share price targets range from $48.00 to $67.00. On average, they predict the company's share price to reach $57.94 in the next year. This suggests a possible upside of 11.8% 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 start of the year. Since then, DVN stock has increased by 14.4% and is now trading at $51.83.
View the best growth stocks for 2024 here
.

Are investors shorting Devon Energy?

Devon Energy saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 15,350,000 shares, a decrease of 7.3% from the March 15th total of 16,560,000 shares. Based on an average trading volume of 8,130,000 shares, the short-interest ratio is currently 1.9 days. Currently, 2.4% of the shares of the company 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 Wednesday, May 1st 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 Thursday, May 2nd 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) announced its quarterly earnings results on Tuesday, February, 27th. The energy company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The energy company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a trailing twelve-month return on equity of 31.72%. The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 earnings per share.
Read the conference call transcript
.

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

Devon Energy declared a quarterly dividend on Tuesday, February 27th. Stockholders of record on Friday, March 15th will be given a dividend of $0.44 per share on Thursday, March 28th. This represents a $1.76 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, March 14th.
Read our dividend analysis for DVN
.

Is Devon Energy a good dividend stock?

Devon Energy (NYSE:DVN) pays an annual dividend of $0.88 per share and currently has a dividend yield of 1.71%. The dividend payout ratio is 15.09%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 15.63% 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 declared that its board has approved a stock repurchase program on Monday, May 2nd 2022, which authorizes the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is 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 Allspring Global Investments Holdings LLC (0.49%), Sumitomo Mitsui Trust Holdings Inc. (0.27%), Wealth Enhancement Advisory Services LLC (0.22%), Fort Pitt Capital Group LLC (0.18%), Portman Square Capital LLP (0.00%) and Nepsis Inc. (0.07%). Insiders that own company stock include Ann G Fox, Clay M Gaspar, Dennis C Cameron, 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 4/20/2024 by MarketBeat.com Staff

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