Devon Energy - DVN Stock Forecast, Price & News

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last twelve months. 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.
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14 Wall Street analysts have issued twelve-month target prices for Devon Energy's stock. Their DVN share price forecasts range from $48.00 to $115.00. On average, they expect the company's stock price to reach $76.24 in the next year. This suggests a possible upside of 19.9% from the stock's current price.
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Devon Energy's stock was trading at $44.05 at the start of the year. Since then, DVN stock has increased by 44.3% and is now trading at $63.57.
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Devon Energy saw a decline in short interest in the month of July. As of July 31st, there was short interest totaling 13,210,000 shares, a decline of 8.6% from the July 15th total of 14,450,000 shares. Based on an average trading volume of 12,660,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.1% 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 Tuesday, November 1st 2022.
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Devon Energy Co. (NYSE:DVN) released its earnings results on Monday, August, 1st. The energy company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.38 by $0.21. The energy company earned $5.63 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 132.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share.
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Devon Energy announced 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 9.75%. 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 $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.

Devon Energy declared that its Board of Directors has authorized a stock repurchase program on Monday, May 2nd 2022, which authorizes the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 4.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is 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 variety of institutional and retail investors. Top institutional shareholders include State Street Corp (6.10%), FMR LLC (3.51%), GQG Partners LLC (2.28%), Northern Trust Corp (1.15%), Victory Capital Management Inc. (0.80%) and Massachusetts Financial Services Co. MA (0.49%). 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 $63.57.

Devon Energy (NYSE:DVN) has a market capitalization of $41.63 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 was founded in 1971.

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.