In the last three months, 17 analysts have published ratings on Devon Energy DVN, offering 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 | 7 | 7 | 3 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 4 | 5 | 2 | 0 | 0 |
| 2M Ago | 2 | 2 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $60.18, along with a high estimate of $69.00 and a low estimate of $49.00. Surpassing the previous average price target of $56.47, the current average has increased by 6.57%.
Decoding Analyst Ratings: A Detailed Look
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 |
|---|---|---|---|---|---|
| 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 |
| Scott Hanold | RBC Capital | Maintains | Sector Perform | $55.00 | - |
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: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey 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.
For valuable insights into Devon Energy's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Devon Energy analyst ratings.
Get to Know Devon Energy Better
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2023, net production totaled roughly 658 thousand boe/d, of which oil and natural gas liquids made up roughly three-quarters of production, with natural gas accounting for the remainder.
Devon Energy's Economic Impact: An Analysis
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Challenges: Devon Energy's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -3.58%. This indicates a decrease in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Devon Energy's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 27.79%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Devon Energy's ROE stands out, surpassing industry averages. With an impressive ROE of 9.72%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Devon Energy's ROA stands out, surpassing industry averages. With an impressive ROA of 4.73%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Devon Energy's debt-to-equity ratio stands notably higher than the industry average, reaching 0.53. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Analyst Ratings: Simplified
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
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.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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