According to a report from Bloomberg, Devon Energy Co. (NYSE: DVN) has recently been recommended as a “Moderate Buy” by a consensus of sixteen ratings firms that cover the stock. Out of the sixteen analysts, six have given a hold recommendation, nine have recommended buying the stock, and one has issued a strong buy recommendation on the company. The average 12-month price target among these brokers is estimated to be $63.22.
On Wednesday, September 27, shares of NYSE DVN opened at $46.95. The market capitalization for the firm stands at $30.08 billion, with a PE ratio of 6.42 and a price-to-earnings-growth ratio of 0.16. With a beta of 2.34, it is important to note that the stock is more volatile than the market index.
Devon Energy’s performance over different time periods can provide valuable insights into its trends. Over the last fifty-two weeks, prices have ranged between $44.03 and $78.82, with its current position closer to its lowest point in that range.
In recent news related to Devon Energy, EVP Dennis C. Cameron sold 7,870 shares of the business’s stock in early August for an average price of $51.13 per share, resulting in a total transaction worth approximately $402,393.10 USD.It should be noted that corporate insiders own just about 0.63% percent of the company’s stock.
The last earnings report released by Devon Energy on August 1st showed an EPS (earnings per share) result matching analysts’ consensus estimates at $1.18 for the quarter.This figure demonstrated a return on equity of around 37.% and a net margin rate set at 28%. Additionally,the company generated revenue worth $3..45 billion during this period while sell-side analysts originally predicted revenue would be around $3.26 billion for the same timeframe. It is worth noting that Devon Energy’s quarterly revenue experienced a decline of 38.6% compared to the same quarter the previous year.
As the fiscal year concludes, sell-side analysts expect Devon Energy to report earnings per share of approximately $5.6.The company’s performance in achieving this target will provide further insight into its financial health and potential growth prospects moving forward.
As always with investment choices, it is important for individual investors to conduct thorough research and carefully consider their own personal financial goals and tolerance for risk before making any decisions.
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Analyst Insights: Devon Energy Stock Receives Mixed Reviews with Revised Price Targets and Ratings
In recent news, several brokerages have provided their insights and analysis on the stock of Devon Energy Corporation (DVN). These commentaries shed light on the company’s target price, rating, and dividend payout ratio.
Evercore ISI, a financial services firm specializing in equity research, recently issued a research note stating that they have revised down their target price for Devon Energy. Initially set at $52.00, Evercore ISI now anticipates a target price of $50.00. Although the reason for this adjustment was not explicitly mentioned in the research note, it likely reflects changing market dynamics or company-specific factors.
Wells Fargo & Company also lowered its price target on Devon Energy from $52.00 to $51.00. In addition to revising their target price downwards, Wells Fargo & Company assigned an “equal weight” rating to the stock. This rating indicates that the brokerage expects the stock to perform in line with other stocks within its coverage universe.
Meanwhile, Piper Sandler decreased its price target even further, from $72.00 to $65.00. They also awarded Devon Energy an “overweight” rating – suggesting that they anticipate the stock will outperform its peers in terms of returns.
Raymond James revised their price objective downward as well; from $70.00 to $62.00. However, they maintained a strong belief in the stock’s prospects by assigning it a “strong-buy” rating – indicating that they believe it is undervalued or has significant growth potential.
On the other hand, UBS Group took a more optimistic stance by boosting their target price on Devon Energy shares from $53.00 to $55.00; simultaneously granting it a “neutral” rating. This level of neutrality suggests that UBS Group does not expect any significant deviation from average market performance.
