In the latest quarter, 15 analysts provided ratings for Devon Energy DVN, showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 5 | 7 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 1 | 0 | 0 |
| 2M Ago | 1 | 3 | 4 | 0 | 0 |
| 3M Ago | 1 | 1 | 2 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $55.47, a high estimate of $77.00, and a low estimate of $48.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 4.81%.
Understanding Analyst Ratings: A Comprehensive Breakdown
A clear picture of Devon Energy's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Nitin Kumar | Mizuho | Lowers | Buy | $53.00 | $54.00 |
| John Freeman | Raymond James | Lowers | Outperform | $53.00 | $61.00 |
| Josh Silverstein | UBS | Lowers | Neutral | $48.00 | $52.00 |
| Devin McDermott | Morgan Stanley | Raises | Overweight | $52.00 | $48.00 |
| Arun Jayaram | JP Morgan | Raises | Overweight | $58.00 | $57.00 |
| Devin McDermott | Morgan Stanley | Lowers | Equal-Weight | $48.00 | $50.00 |
| Derrick Whitfield | Stifel | Lowers | Buy | $77.00 | $79.00 |
| Roger Read | Wells Fargo | Lowers | Equal-Weight | $48.00 | $50.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $61.00 | $67.00 |
| Scott Hanold | RBC Capital | Lowers | Sector Perform | $55.00 | $60.00 |
| Josh Silverstein | UBS | Lowers | Neutral | $52.00 | $54.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $65.00 | $68.00 |
| Roger Read | Wells Fargo | Lowers | Equal-Weight | $50.00 | $51.00 |
| Biju Perincheril | Susquehanna | Lowers | Positive | $62.00 | $72.00 |
| Devin McDermott | Morgan Stanley | Lowers | Equal-Weight | $50.00 | $51.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Devon Energy. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Devon Energy compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Devon Energy's stock. This comparison reveals trends in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Devon Energy's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Devon Energy analyst ratings.
About Devon Energy
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% of production, with natural gas accounting for the remainder.
Financial Insights: Devon Energy
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining Devon Energy's financials over 3 months reveals challenges. As of 30 September, 2023, the company experienced a decline of approximately -29.38% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Devon Energy's net margin is impressive, surpassing industry averages. With a net margin of 23.72%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Devon Energy's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 8.03%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Devon Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.82% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Devon Energy's debt-to-equity ratio is below the industry average. With a ratio of 0.55, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyst Ratings: Simplified
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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