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Devon Energy - DVN Stock Forecast, Price & News

$63.57
-1.98 (-3.02%)
(As of 08/15/2022 05:35 PM ET)
Add
Compare
Today's Range
$61.40
$64.39
50-Day Range
$51.00
$78.04
52-Week Range
$24.46
$79.40
Volume
11.11 million shs
Average Volume
12.79 million shs
Market Capitalization
$41.63 billion
P/E Ratio
8.07
Dividend Yield
7.75%
Price Target
$76.24

Devon Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.64 Rating Score
Upside/​Downside
19.7% Upside
$76.24 Price Target
Short Interest
Healthy
2.05% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-6.69
Upright™ Environmental Score
News Sentiment
0.93mentions of Devon Energy in the last 14 days
Based on 29 Articles This Week
Insider Trading
Selling Shares
$394,037 Sold Last Quarter
Proj. Earnings Growth
10.09%
From $9.12 to $10.04 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.12 out of 5 stars

Oils/Energy Sector

9th out of 261 stocks

Crude Petroleum & Natural Gas Industry

7th out of 81 stocks

DVN stock logo

About Devon Energy (NYSE:DVN) Stock

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DVN. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $70.00 to $61.00 and set a "neutral" rating for the company in a research report on Tuesday, July 5th. Susquehanna lifted their price objective on shares of Devon Energy from $62.00 to $73.00 in a research report on Monday, April 25th. Piper Sandler lowered their target price on shares of Devon Energy from $97.00 to $94.00 in a research note on Friday, July 22nd. Mizuho lowered their target price on shares of Devon Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, July 19th. Finally, Truist Financial lifted their price objective on shares of Devon Energy from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.24.

Devon Energy Trading Down 3.3 %

Shares of NYSE:DVN traded down $2.14 during mid-day trading on Monday, hitting $63.41. 209,589 shares of the company traded hands, compared to its average volume of 12,723,412. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 8.32 and a beta of 2.56. Devon Energy has a 1 year low of $24.46 and a 1 year high of $79.40. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $59.71 and a two-hundred day moving average of $60.50.

Devon Energy (NYSE:DVN - Get Rating) last issued its earnings results on Monday, August 1st. The energy company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.21. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $4.77 billion. Devon Energy had a return on equity of 48.58% and a net margin of 30.65%. The business's revenue was up 132.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, sell-side analysts anticipate that Devon Energy will post 9.12 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 9.78%. The ex-dividend date of this dividend is Friday, September 9th. This is an increase from Devon Energy's previous quarterly dividend of $1.27. Devon Energy's dividend payout ratio is 64.47%.

Insider Transactions at Devon Energy

In other news, EVP Dennis C. Cameron sold 4,537 shares of the company's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $53.55, for a total transaction of $242,956.35. Following the completion of the sale, the executive vice president now owns 270,269 shares in the company, valued at approximately $14,472,904.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Devon Energy news, EVP Dennis C. Cameron sold 4,537 shares of the firm's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $53.55, for a total value of $242,956.35. Following the completion of the sale, the executive vice president now owns 270,269 shares in the company, valued at approximately $14,472,904.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann G. Fox sold 2,150 shares of the firm's stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $70.27, for a total value of $151,080.50. Following the completion of the sale, the director now owns 26,858 shares of the company's stock, valued at approximately $1,887,311.66. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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DVN Stock News Headlines

High-Flying Energy Stocks Yielding 9% to 27%
MarketBeat: Week in Review 8/1 - 8/5 (DVN)
The hot jobs report is dispelling any notion that interest rates will level off. But the market moves on and here are some of the stocks and stories to follow.
Devon Energy Looks Attractive if You Look Past the Headlines
There are some very sound reasons to invest in DVN stock. However, it’s important to separate the long-term outlook from some short-term headwinds
Devon Energy Produces A Record Quarter, Dividend Raised By 22%
Devon Energy produced another record quarter of profits, as higher volumes and prices provided significant tailwinds to results.
Devon Energy (NYSE:DVN) PT Raised to $115.00
Big Dividend Of Nearly 10% For Devon Energy
Devon Energy (NYSE:DVN) Stock Rating Lowered by StockNews.com
Devon Energy (DVN) Q2 2022 Earnings Call Transcript
Devon posts higher Q2 profit
See More Headlines
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DVN Company Calendar

Ex-Dividend for 6/30 Dividend
6/10/2022
Dividend Payable
6/30/2022
Last Earnings
8/01/2022
Today
8/15/2022
Ex-Dividend for 9/30 Dividend
9/09/2022
Dividend Payable
9/30/2022
Next Earnings (Estimated)
11/01/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Oil & Gas Exploration & Production
CUSIP
25179M10
Employees
1,600
Year Founded
1971

Price Target and Rating

Average Stock Price Forecast
$76.24
High Stock Price Forecast
$115.00
Low Stock Price Forecast
$48.00
Forecasted Upside/Downside
+19.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.64
Research Coverage
14 Analysts

Profitability

Net Income
$2.81 billion
Pretax Margin
37.16%

Debt

Sales & Book Value

Annual Sales
$12.21 billion
Cash Flow
$6.45 per share
Book Value
$13.88 per share

Miscellaneous

Free Float
649,562,000
Market Cap
$41.63 billion
Optionable
Optionable
Beta
2.56

Social Links















DVN Stock - Frequently Asked Questions

Should I buy or sell Devon Energy stock right now?

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 6 hold ratings, 7 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" DVN shares.
View DVN analyst ratings
or view top-rated stocks.

What is Devon Energy's stock price forecast for 2022?

14 Wall Street analysts have issued twelve-month price objectives for Devon Energy's shares. Their DVN share price forecasts range from $48.00 to $115.00. On average, they expect the company's share price to reach $76.24 in the next twelve months. This suggests a possible upside of 18.6% 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 2022?

Devon Energy's stock was trading at $44.05 at the beginning of 2022. Since then, DVN stock has increased by 45.9% and is now trading at $64.27.
View the best growth stocks for 2022 here
.

Are investors shorting Devon Energy?

Devon Energy saw a drop in short interest in the month of July. As of July 31st, there was short interest totaling 13,210,000 shares, a drop of 8.6% from the July 15th total of 14,450,000 shares. Based on an average daily trading volume, of 12,660,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 2.1% of the company's stock are short sold.
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 Tuesday, November 1st 2022.
View our DVN earnings forecast
.

How were Devon Energy's earnings last quarter?

Devon Energy Co. (NYSE:DVN) announced its quarterly earnings data on Monday, August, 1st. The energy company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.21. The energy company earned $5.63 billion during the quarter, compared to analysts' expectations of $4.77 billion. Devon Energy had a trailing twelve-month return on equity of 48.58% and a net margin of 30.65%. The company's revenue was up 132.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 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 Monday, August 1st. Shareholders of record on Monday, September 12th will be given a dividend of $1.55 per share on Friday, September 30th. This represents a $6.20 dividend on an annualized basis and a yield of 9.65%. The ex-dividend date is Friday, September 9th. This is an increase from the stock's previous quarterly dividend of $1.27.
Read our dividend analysis for DVN
.

Is Devon Energy a good dividend stock?

Devon Energy (NYSE:DVN) pays an annual dividend of $5.08 per share and currently has a dividend yield of 7.75%. DVN has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 5 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 64.47%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, DVN will have a dividend payout ratio of 50.60% 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 of Directors has authorized a stock buyback plan on Monday, May 2nd 2022, which permits the company to repurchase $2,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are 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).

What is Devon Energy's stock symbol?

Devon Energy trades on the New York Stock Exchange (NYSE) under the ticker symbol "DVN."

Who are Devon Energy's major shareholders?

Devon Energy's stock is owned by a variety of institutional and retail investors. Top institutional investors include FMR LLC (3.51%), Northern Trust Corp (1.15%), Victory Capital Management Inc. (0.80%), Massachusetts Financial Services Co. MA (0.49%), UBS Asset Management Americas Inc. (0.48%) and Allspring Global Investments Holdings LLC (0.46%). 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.
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Devon Energy's stock price today?

One share of DVN stock can currently be purchased for approximately $64.27.

How much money does Devon Energy make?

Devon Energy (NYSE:DVN) has a market capitalization of $42.08 billion and generates $12.21 billion in revenue each year. The energy company earns $2.81 billion in net income (profit) each year or $7.88 on an earnings per share basis.

How many employees does Devon Energy have?

The company employs 1,600 workers across the globe.

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

When was Devon Energy founded?

Devon Energy was founded in 1971.

How can I contact Devon Energy?

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.

This page (NYSE:DVN) was last updated on 8/15/2022 by MarketBeat.com Staff

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