Devon Energy - DVN Stock Forecast, Price & News

16 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. There are currently 7 hold ratings, 8 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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16 Wall Street research analysts have issued twelve-month price targets for Devon Energy's shares. Their DVN share price forecasts range from $62.00 to $115.00. On average, they expect the company's share price to reach $81.17 in the next year. This suggests a possible upside of 18.5% from the stock's current price.
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Devon Energy's stock was trading at $44.05 on January 1st, 2022. Since then, DVN shares have increased by 55.6% and is now trading at $68.52.
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Devon Energy saw a drop in short interest during the month of November. As of November 15th, there was short interest totaling 16,380,000 shares, a drop of 16.8% from the October 31st total of 19,680,000 shares. Based on an average daily trading volume, of 11,350,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.5% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 21st 2023.
View our DVN earnings forecast.

Devon Energy Co. (NYSE:DVN) posted its earnings results on Tuesday, November, 2nd. The energy company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.93 by $0.15. The energy company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.19 billion. Devon Energy had a net margin of 33.01% and a trailing twelve-month return on equity of 53.17%. During the same period last year, the company earned ($0.04) EPS.
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Devon Energy declared a quarterly dividend on Tuesday, November 1st. Investors of record on Monday, December 12th will be paid a dividend of $1.35 per share on Friday, December 30th. This represents a $5.40 annualized dividend and a dividend yield of 7.88%. The ex-dividend date of this dividend is Friday, December 9th.
Read our dividend analysis for DVN.

Devon Energy (NYSE:DVN) pays an annual dividend of $6.20 per share and currently has a dividend yield of 9.19%. DVN has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 65.13%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 68.74% 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 has approved a share repurchase program on Monday, May 2nd 2022, which permits the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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 many different retail and institutional investors. Top institutional investors include Vanguard Group Inc. (11.81%), BlackRock Inc. (8.76%), State Street Corp (6.55%), Boston Partners (1.71%), Bank of New York Mellon Corp (1.55%) and Victory Capital Management Inc. (0.91%). 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, Kelt Kindick 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 $68.52.

Devon Energy (NYSE:DVN) has a market capitalization of $44.79 billion and generates $12.21 billion in revenue each year. The energy company earns $2.81 billion in net income (profit) each year or $9.52 on an earnings per share basis.

The company employs 1,600 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.