Devon Energy - DVN Stock Forecast, Price & News

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 7 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" DVN shares.
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17 Wall Street analysts have issued 12 month price objectives for Devon Energy's shares. Their DVN share price forecasts range from $52.00 to $93.00. On average, they predict the company's stock price to reach $72.42 in the next twelve months. This suggests a possible upside of 48.9% from the stock's current price.
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Devon Energy's stock was trading at $61.51 at the beginning of the year. Since then, DVN shares have decreased by 20.9% and is now trading at $48.63.
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Devon Energy saw a increase in short interest during the month of February. As of February 28th, there was short interest totaling 14,700,000 shares, an increase of 25.6% from the February 13th total of 11,700,000 shares. Based on an average daily trading volume, of 9,650,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.3% of the shares of the company are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, May 1st 2023.
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Devon Energy Co. (NYSE:DVN) issued its earnings results on Wednesday, February, 15th. The energy company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by $0.09. The energy company earned $4.30 billion during the quarter, compared to analysts' expectations of $4.29 billion. Devon Energy had a trailing twelve-month return on equity of 52.20% and a net margin of 31.38%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 EPS.
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Devon Energy declared a None dividend on Tuesday, February 14th. Investors of record on Wednesday, March 15th will be given a dividend of $0.89 per share on Friday, March 31st. This represents a yield of 9.3%. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from the stock's previous None dividend of $0.49.
Read our dividend analysis for DVN.

ETFs with the largest weight of Devon Energy (NYSE:DVN) stock in their portfolio include Invesco Dynamic Energy Exploration & Production ETF (PXE), iShares U.S. Oil & Gas Exploration & Production ETF (IEO), TrueShares Low Volatility Equity Income ETF (DIVZ), Invesco S&P 500 Equal Weight Energy ETF (RYE), Amplify Natural Resources Dividend Income ETF (NDIV), Invesco DWA Energy Momentum ETF (PXI), Pacer US Cash Cows Growth ETF (BUL) and First Trust Natural Gas ETF (FCG).

Devon Energy (NYSE:DVN) pays an annual dividend of $0.80 per share and currently has a dividend yield of 1.73%. The dividend payout ratio is 8.77%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 11.22% 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 approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's board 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 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 Geode Capital Management LLC (2.04%), Morgan Stanley (1.72%), Boston Partners (1.61%), Victory Capital Management Inc. (0.90%), Victory Capital Management Inc. (0.90%) and T. Rowe Price Investment Management Inc. (0.86%). 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 $48.63.

Devon Energy (NYSE:DVN) has a market capitalization of $31.80 billion and generates $19.17 billion in revenue each year. The energy company earns $6.02 billion in net income (profit) each year or $9.12 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.