NYSE:DVN

Devon Energy - DVN Stock Forecast, Price & News

$64.53

+4.48 (+7.46%)

(As of 08/11/2022 02:15 PM ET)

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Today's Range: $60.89
▼
$64.58
50-Day Range: $51.00
▼
$78.04
52-Week Range: $24.46
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$79.40

Volume: 471,839 shs
Average Volume: 10.72 million shs
Market Capitalization: $42.25 billion

P/E Ratio: 8.19
Dividend Yield: 8.60%
Price Target: $76.24

Devon Energy MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.64 Rating Score
Upside/Downside: 20.2% 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: 0.64
Based on 33 Articles This Week
Insider Trading: Selling Shares
$394,037 Sold Last Quarter
Proj. Earnings Growth: 6.43%
From $9.02 to $9.60 Per Share

Overall MarketRank^™

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

2.98 out of 5 stars

Oils/Energy Sector

5th out of 256 stocks

Crude Petroleum & Natural Gas Industry

3rd out of 78 stocks

3.3

Analyst's Opinion

Consensus Rating
Devon Energy has received a consensus rating of Buy. The company's average rating score is 2.64, and is based on 7 buy ratings, 6 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $76.24, Devon Energy has a forecasted upside of 20.2% from its current price of $63.40.
Amount of Analyst Coverage
Devon Energy has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

5.0

Short Interest

Percentage of Shares Shorted
2.05% of the float of Devon Energy has been sold short.
Short Interest Ratio / Days to Cover
Devon Energy has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Devon Energy has recently decreased by 8.58%, indicating that investor sentiment is improving significantly.

4.2

Dividend Strength

Dividend Leadership
Devon Energy is a leading dividend payer. It pays a dividend yield of 8.60%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Devon Energy has been increasing its dividend for 5 years.
Dividend Coverage
The dividend payout ratio of Devon Energy is 64.47%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Devon Energy will have a dividend payout ratio of 52.92% next year. This indicates that Devon Energy will be able to sustain or increase its dividend.

0.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Devon Energy has received a -62.19% net impact score from Upright. The largest negative impact of Devon Energy in category "GHG emissions" seems to be driven mostly by its "Refined oil", "Refined natural gas", "Natural gas exploration services", and "Hydrocarbon gas liquids" products. See details.
Environmental Sustainability
The Environmental Impact score for Devon Energy is -6.69.

3.7

News and Social Media Coverage

News Sentiment
Devon Energy has a news sentiment score of 0.64. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.43 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 33 news articles for Devon Energy this week, compared to 8 articles on an average week.
Search Interest
374 people have searched for DVN on MarketBeat in the last 30 days. This is an increase of 18% compared to the previous 30 days.
MarketBeat Follows
350 people have added Devon Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 89% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Devon Energy insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $394,037.00 in company stock.
Percentage Held by Insiders
Only 0.80% of the stock of Devon Energy is held by insiders.
Percentage Held by Institutions
87.01% of the stock of Devon Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Devon Energy are expected to grow by 6.43% in the coming year, from $9.02 to $9.60 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Devon Energy is 8.05, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 128.89.
Price to Earnings Ratio vs. Sector
The P/E ratio of Devon Energy is 8.05, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 56.36.
Price to Book Value per Share Ratio
Devon Energy has a P/B Ratio of 4.06. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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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.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $60.05 on Thursday. The stock has a market capitalization of $39.32 billion, a price-to-earnings ratio of 7.62 and a beta of 2.56. The business has a 50-day moving average of $60.18 and a 200-day moving average of $60.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.55 and a quick ratio of 1.55. Devon Energy has a fifty-two week low of $24.46 and a fifty-two week high of $79.40.

Devon Energy (NYSE:DVN - Get Rating) last announced its quarterly earnings data on Monday, August 1st. The energy company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.21. The company had revenue of $5.63 billion during the quarter, compared to analysts' expectations of $4.77 billion. Devon Energy had a return on equity of 48.58% and a net margin of 30.65%. Devon Energy's revenue for the quarter was up 132.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Devon Energy will post 9.02 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be paid a $1.55 dividend. This is an increase from Devon Energy's previous quarterly dividend of $1.27. This represents a $6.20 annualized dividend and a yield of 10.32%. The ex-dividend date is Friday, September 9th. Devon Energy's dividend payout ratio (DPR) is 64.47%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DVN. Mizuho cut their price target on Devon Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, July 19th. Susquehanna Bancshares raised their price objective on Devon Energy from $62.00 to $73.00 in a research note on Monday, April 25th. Credit Suisse Group raised their price objective on Devon Energy from $75.00 to $82.00 and gave the stock an "outperform" rating in a research note on Thursday, June 9th. Johnson Rice downgraded Devon Energy from a "buy" rating to an "accumulate" rating in a research note on Tuesday, May 24th. Finally, Truist Financial raised their price objective on Devon Energy from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and a consensus target price of $76.24.

Insider Activity at Devon Energy

In related news, Director Ann G. Fox sold 2,150 shares of the firm's stock in a transaction dated Monday, June 13th. The shares were 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 directly owns 26,858 shares in the company, valued at approximately $1,887,311.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann G. Fox sold 2,150 shares of the firm's stock in a transaction dated Monday, June 13th. The shares were 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 directly owns 26,858 shares in the company, valued at approximately $1,887,311.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dennis C. Cameron sold 4,537 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were 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 of the company's stock, valued at $14,472,904.95. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

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DVN Stock News Headlines

August 5, 2022 | marketbeat.com

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.

August 4, 2022 | marketbeat.com

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

August 11, 2022 | Investing Daily (Ad)

27 U.S. Cities Where Stocks Yield 26% a Year

What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%! When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.

August 2, 2022 | marketbeat.com

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.

July 13, 2022 | marketbeat.com

Delta, Fastenal fall; Twitter, Devon Energy rise

Stocks that traded heavily or had substantial price changes Wednesday: Delta, Fastenal fall; Twitter, Devon Energy rise

August 9, 2022 | seekingalpha.com

Big Dividend Of Nearly 10% For Devon Energy

August 9, 2022 | seekingalpha.com

Devon Energy: Acquisition Of Validus Energy Is Another Great Move