Devon Energy - DVN Stock Forecast, Price & News

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 7 hold ratings, 8 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" DVN shares.
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16 brokerages have issued 12-month target prices for Devon Energy's stock. Their DVN share price forecasts range from $48.00 to $115.00. On average, they predict the company's share price to reach $77.06 in the next twelve months. This suggests a possible upside of 28.1% 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 36.5% and is now trading at $60.13.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 1st 2022.
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Devon Energy will be holding an earnings conference call on Wednesday, November 2nd 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 quarterly earnings data 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 energy company had revenue of $5.63 billion for the quarter, compared to the consensus estimate 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 business's quarterly revenue was up 132.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
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Devon Energy declared a quarterly dividend on Monday, August 1st. Investors 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 dividend yield of 10.31%. The ex-dividend date of this dividend is Friday, September 9th. This is a boost from the stock's previous quarterly dividend of $1.27.
Read our dividend analysis for DVN.

Devon Energy (NYSE:DVN) pays an annual dividend of $6.60 per share and currently has a dividend yield of 10.82%. 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 83.76%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, DVN will have a dividend payout ratio of 62.62% 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 authorized a stock repurchase program 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 buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are often an indication 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."

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 $60.13.

Devon Energy (NYSE:DVN) has a market capitalization of $39.37 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.

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.