Devon Energy DVN has been analyzed by 21 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 10 | 8 | 3 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 5 | 4 | 1 | 0 | 0 |
| 3M Ago | 4 | 4 | 2 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $60.86, a high estimate of $69.00, and a low estimate of $49.00. Observing a 6.29% increase, the current average has risen from the previous average price target of $57.26.
Exploring Analyst Ratings: An In-Depth Overview
The perception of Devon Energy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Noah Hungness | B of A Securities | Announces | Buy | $64.00 | - |
| Mark Lear | Piper Sandler | Raises | Overweight | $61.00 | $60.00 |
| Nitin Kumar | Mizuho | Raises | Buy | $61.00 | $57.00 |
| Scott Hanold | RBC Capital | Raises | Sector Perform | $57.00 | $55.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $67.00 | $69.00 |
| Nitin Kumar | Mizuho | Raises | Buy | $57.00 | $53.00 |
| Derrick Whitfield | Stifel | Raises | Buy | $66.00 | $65.00 |
| Neal Dingmann | Truist Securities | Raises | Buy | $69.00 | $66.00 |
| Biju Perincheril | Susquehanna | Raises | Positive | $65.00 | $52.00 |
| Mark Lear | Piper Sandler | Raises | Overweight | $60.00 | $59.00 |
| Devin McDermott | Morgan Stanley | Raises | Overweight | $50.00 | $49.00 |
| Scott Gruber | Citigroup | Raises | Buy | $62.00 | $55.00 |
| Paul Cheng | Scotiabank | Raises | Sector Outperform | $67.00 | $53.00 |
| Josh Silverstein | UBS | Raises | Neutral | $57.00 | $48.00 |
| Betty Jiang | Barclays | Announces | Equal-Weight | $59.00 | - |
| Arun Jayaram | JP Morgan | Raises | Overweight | $62.00 | $57.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $66.00 | $69.00 |
| Roger Read | Wells Fargo | Raises | Overweight | $59.00 | $46.00 |
| Devin McDermott | Morgan Stanley | Raises | Overweight | $49.00 | $48.00 |
| Derrick Whitfield | Stifel | Lowers | Buy | $65.00 | $75.00 |
| Scott Gruber | Citigroup | Raises | Buy | $55.00 | $52.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Devon Energy. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Devon Energy compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Devon Energy's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
To gain a panoramic view of Devon Energy's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Devon Energy analyst ratings.
Get to Know Devon Energy Better
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Key Indicators: Devon Energy's Financial Health
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Challenges: Devon Energy's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -5.94%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind 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 16.57%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Devon Energy's ROE stands out, surpassing industry averages. With an impressive ROE of 4.92%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Devon Energy's ROA excels beyond industry benchmarks, reaching 2.41%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.53.
The Basics of Analyst Ratings
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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