Providing a diverse range of perspectives from bullish to bearish, 10 analysts have published ratings on Devon Energy DVN in the last three months.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 6 | 2 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 1 | 0 | 0 |
| 2M Ago | 1 | 4 | 1 | 0 | 0 |
| 3M Ago | 1 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $58.3, a high estimate of $65.00, and a low estimate of $43.00. Highlighting a 1.92% decrease, the current average has fallen from the previous average price target of $59.44.
Investigating Analyst Ratings: An Elaborate Study
The standing of Devon Energy among financial experts becomes clear 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 |
|---|---|---|---|---|---|
| Roger Read | Wells Fargo | Lowers | Overweight | $55.00 | $57.00 |
| Roger Read | Wells Fargo | Lowers | Overweight | $57.00 | $60.00 |
| Bob Brackett | Bernstein | Lowers | Market Perform | $43.00 | $48.00 |
| Paul Cheng | Scotiabank | Lowers | Sector Outperform | $60.00 | $67.00 |
| Biju Perincheril | Susquehanna | Maintains | Positive | $65.00 | $65.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $64.00 | $67.00 |
| Scott Hanold | RBC Capital | Maintains | Sector Perform | $57.00 | $57.00 |
| Devin McDermott | Morgan Stanley | Raises | Overweight | $54.00 | $52.00 |
| Arun Jayaram | JP Morgan | Raises | Overweight | $64.00 | $62.00 |
| Noah Hungness | B of A Securities | Announces | Buy | $64.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Devon Energy. This information offers 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 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.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Devon Energy's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Devon Energy analyst ratings.
Discovering Devon Energy: A Closer Look
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.
Devon Energy: A Financial Overview
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Devon Energy displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 13.4%. This indicates a notable increase in the company's 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 surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 21.55% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Devon Energy's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 6.83%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Devon Energy's ROA stands out, surpassing industry averages. With an impressive ROA of 3.37%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.51, Devon Energy adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Basics of Analyst Ratings
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
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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