During the last three months, 19 analysts shared their evaluations of Devon Energy (NYSE:DVN), revealing diverse outlooks from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 11 | 6 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 2 | 1 | 0 | 0 |
| 2M Ago | 1 | 6 | 3 | 0 | 0 |
| 3M Ago | 0 | 3 | 2 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $51.11, a high estimate of $63.00, and a low estimate of $43.00. Observing a downward trend, the current average is 9.27% lower than the prior average price target of $56.33.
Investigating Analyst Ratings: An Elaborate Study
The standing of Devon Energy among financial experts is revealed through an in-depth exploration 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 |
|---|---|---|---|---|---|
| Scott Gruber | Citigroup | Lowers | Buy | $48.00 | $55.00 |
| Mark Lear | Piper Sandler | Raises | Overweight | $57.00 | $56.00 |
| Roger Read | Wells Fargo | Lowers | Overweight | $49.00 | $50.00 |
| Neal Dingmann | Truist Securities | Lowers | Hold | $43.00 | $49.00 |
| Biju Perincheril | Susquehanna | Lowers | Positive | $62.00 | $63.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $56.00 | $57.00 |
| Paul Cheng | Scotiabank | Lowers | Sector Outperform | $48.00 | $60.00 |
| Nitin Kumar | Mizuho | Lowers | Outperform | $51.00 | $53.00 |
| Phillip Jungwirth | BMO Capital | Lowers | Outperform | $48.00 | $52.00 |
| Betty Jiang | Barclays | Lowers | Equal-Weight | $46.00 | $55.00 |
| Anthony Linton | Jefferies | Announces | Hold | $45.00 | - |
| Roger Read | Wells Fargo | Lowers | Overweight | $50.00 | $55.00 |
| Stephen Richardson | Evercore ISI Group | Lowers | In-Line | $50.00 | $55.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $49.00 | $60.00 |
| Josh Silverstein | UBS | Lowers | Neutral | $47.00 | $53.00 |
| Devin McDermott | Morgan Stanley | Lowers | Overweight | $51.00 | $55.00 |
| Arun Jayaram | JP Morgan | Lowers | Overweight | $51.00 | $64.00 |
| Biju Perincheril | Susquehanna | Lowers | Positive | $63.00 | $65.00 |
| Scott Hanold | RBC Capital | Maintains | Sector Perform | $57.00 | $57.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Devon Energy. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Devon Energy's market position. Stay informed and make well-informed decisions with 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.
Unraveling the Financial Story of Devon Energy
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining Devon Energy's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.9% as of 30 September, 2024, showcasing a substantial increase 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 20.18%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.05%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Devon Energy's ROA stands out, surpassing industry averages. With an impressive ROA of 2.93%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 0.65, Devon Energy faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Core of Analyst Ratings: What Every Investor Should Know
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
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.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. Click here for urgent details.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
