Analysts' ratings for Devon Energy DVN over the last quarter vary from bullish to bearish, as provided by 12 analysts.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 7 | 3 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 2 | 0 | 0 | 0 |
| 2M Ago | 1 | 5 | 2 | 0 | 0 |
| 3M Ago | 1 | 0 | 0 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Devon Energy, presenting an average target of $58.08, a high estimate of $65.00, and a low estimate of $43.00. Experiencing a 2.76% decline, the current average is now lower than the previous average price target of $59.73.
Deciphering Analyst Ratings: An In-Depth Analysis
An in-depth analysis of recent analyst actions unveils how financial experts perceive Devon Energy. The following summary 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 |
|---|---|---|---|---|---|
| Scott Hanold | RBC Capital | Maintains | Sector Perform | $57.00 | $57.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $57.00 | $65.00 |
| 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 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: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Devon Energy compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
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.
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.
Financial Insights: Devon Energy
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Devon Energy's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 13.4%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
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): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.83%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Devon Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.37% 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 0.51, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Basics of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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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