Devon Energy Stock (NYSE:DVN), Trade Ideas

Devon Energy

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.

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<p>Stifel  analyst Derrick Whitfield   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Buy and raises the price target from $65 to $66.</p>


Stifel Maintains Buy on Devon Energy, Raises Price Target to $66

<p>Truist Securities  analyst Neal Dingmann   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Buy and raises the price target from $66 to $69.</p>


Truist Securities Maintains Buy on Devon Energy, Raises Price Target to $69

<p>Susquehanna  analyst Biju Perincheril   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Positive and raises the price target from $52 to $65.</p>


Susquehanna Maintains Positive on Devon Energy, Raises Price Target to $65

<p>Piper Sandler  analyst Mark Lear   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Overweight and raises the price target from $59 to $60.</p>


Piper Sandler Maintains Overweight on Devon Energy, Raises Price Target to $60

<p>Deep-pocketed investors have adopted a bearish approach towards Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 2 are puts, totaling $114,140, and 7 are calls, amounting to $407,958.</p>
<h3>Expected Price Movements</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $55.0 for Devon Energy over the last 3 months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $47.5 to $55.0 over the preceding 30 days.</p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713541589_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$5.45</td>
<td>$4.15</td>
<td>$3.9</td>
<td>$50.00</td>
<td>$156.3K</td>
<td>6.6K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$6.5</td>
<td>$6.4</td>
<td>$6.4</td>
<td>$50.00</td>
<td>$72.3K</td>
<td>1.3K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.3</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$47.50</td>
<td>$57.2K</td>
<td>6.8K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$2.92</td>
<td>$2.86</td>
<td>$2.86</td>
<td>$55.00</td>
<td>$56.8K</td>
<td>213</td>
<td style="text-align: right;">220</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$5.7</td>
<td>$5.6</td>
<td>$5.6</td>
<td>$50.00</td>
<td>$48.7K</td>
<td>1.3K</td>
<td style="text-align: right;">90</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>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.</p>
<p>After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Where Is Devon Energy Standing Right Now?</h3>
<ul>
<li>With a volume of 1,865,238, the price of DVN is up 1.13% at $52.01. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 12 days.</li>
</ul>
<h3>What Analysts Are Saying About Devon Energy</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $58.6.</p>
<ul>
<li>An analyst from Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $65. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $50. </li>
<li>In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $59. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $62. </li>
<li>Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Devon Energy with a target price of $57. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Options

Devon Energy Unusual Options Activity For April 19

<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Devon Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Devon Energy.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.</p>
<p>Out of all of the special options we uncovered, 3 are puts, for a total amount of $283,973, and 7 are calls, for a total amount of $334,945.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $57.5 for Devon Energy during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Devon Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Devon Energy's whale trades within a strike price range from $30.0 to $57.5 in the last 30 days. </p>
<h3>Devon Energy 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713464288_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$4.0</td>
<td>$3.2</td>
<td>$3.37</td>
<td>$55.00</td>
<td>$147.9K</td>
<td>74</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$5.45</td>
<td>$5.35</td>
<td>$5.35</td>
<td>$50.00</td>
<td>$110.7K</td>
<td>1.0K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$5.95</td>
<td>$5.85</td>
<td>$5.88</td>
<td>$57.50</td>
<td>$101.8K</td>
<td>280</td>
<td style="text-align: right;">94</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.95</td>
<td>$3.9</td>
<td>$3.9</td>
<td>$55.00</td>
<td>$47.1K</td>
<td>8.3K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$21.8</td>
<td>$21.55</td>
<td>$21.8</td>
<td>$30.00</td>
<td>$43.6K</td>
<td>10</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>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.</p>
<p>After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>Currently trading with a volume of 2,517,916, the DVN's price is up by 0.25%, now at $51.8. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 13 days.</li>
</ul>
<h3>What Analysts Are Saying About Devon Energy</h3>
<p>In the last month, 5 experts released ratings on this stock with an average target price of $59.0.</p>
<ul>
<li>An analyst from Citigroup has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $62. </li>
<li>Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Devon Energy, targeting a price of $57. </li>
<li>In a cautious move, an analyst from Barclays downgraded its rating to Equal-Weight, setting a price target of $59. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Devon Energy with a target price of $50. </li>
<li>An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Devon Energy, which currently sits at a price target of $67. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Devon Energy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


A Closer Look at Devon Energy's Options Market Dynamics

<p>Throughout the last three months, 15 analysts have evaluated Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), offering a diverse set of opinions from bullish to bearish.</p>
<p>Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $59.47, along with a high estimate of $75.00 and a low estimate of $49.00. This current average reflects an increase of 4.06% from the previous average price target of $57.15. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713204042_0.png" alt="price target chart" /></p>
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
<p>A clear picture of Devon Energy's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$50.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$62.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$67.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$57.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$59.00</td>
<td>-</td>
</tr>
<tr>
<td>Arun Jayaram</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$62.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$66.00</td>
<td>$69.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$59.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Derrick Whitfield</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$65.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$55.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$55.00</td>
<td>-</td>
</tr>
<tr>
<td>John Freeman</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$52.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$59.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Derrick Whitfield</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$75.00</td>
<td>$77.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> 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.</li>
<li><strong>Rating:</strong> 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.</li>
<li><strong>Price Targets:</strong> Understanding forecasts, analysts offer estimates for Devon Energy's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
<p>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.</p>
<p><a href="https://www.benzinga.com/quote/DVN/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Devon Energy analyst ratings.</strong></a></p>
<h2>About Devon Energy</h2>
<p>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.</p>
<h3>Financial Insights: Devon Energy</h3>
<p><strong>Market Capitalization Analysis:</strong> With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.</p>
<p><strong>Decline in Revenue:</strong> Over the 3 months period, Devon Energy faced challenges, resulting in a decline of approximately <strong>-3.58%</strong> in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.</p>
<p><strong>Net Margin:</strong> Devon Energy's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of <strong>27.79%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> Devon Energy's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>9.72%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of <strong>4.73%,</strong> the company showcases effective utilization of assets.</p>
<p><strong>Debt Management:</strong> Devon Energy's debt-to-equity ratio is notably higher than the industry average. With a ratio of <b>0.53</b>, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.</p>
<h2>Analyst Ratings: Simplified</h2>
<p>Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. </p>
<p>Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


A Closer Look at 15 Analyst Recommendations For Devon Energy

<p>Morgan Stanley  analyst Devin McDermott   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Overweight and raises the price target from $49 to $50.</p>


Morgan Stanley Maintains Overweight on Devon Energy, Raises Price Target to $50

<p>U.S. energy stocks, as tracked by the <strong>Energy Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), could potentially notch their ninth straight positive week, marking the longest pace of weekly gains since May 2007. </p>
<p>Oil prices surged sharply on Friday following reports suggesting that an Iranian assault on Israel could potentially occur within <a href="https://www.benzinga.com/news/24/04/38217135/israel-prepares-for-possible-iranian-retaliation-within-48-hours-report">the next 48 hours.</a> The Times of Israel reported that &#8220;Iran attack of 100 drones, dozens of missiles could be launched at Israel today.&#8221;</p>
<p>The Israeli Minister of National Security convened a meeting with top officials from the police, civil defense, and emergency services to ensure their readiness for a potential Iranian strike, as reported by Sky News Arabia.</p>
<p>The White House confirmed on Friday that Iran&#8217;s threats to Israel are &#8220;real and credible,&#8221; emphasizing that the United States intends to do everything it can to ensure that Israel is able to defend itself.</p>
<p>Adding to the rising geopolitical tensions in the Middle East, the Foreign Office of the United Kingdom has cautioned its citizens against traveling to Israel and the occupied Palestinian territory due to the &#8220;possibility of an attack on Israeli territory from Iran." </p>
<p>The West Texas Intermediate (WTI) light crude, as tracked by the <strong>United States Oil Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) spiked 2.8% to above $87 a barrel, while Brent prices surged to $91 a barrel, reaching the highest levels in seven months. </p>
<p>Crude is up by 22% year-to-date, while shares of major U.S. energy companies have risen 16%.  </p>
<p><em>Chart: US Energy Stocks Eye 9-Week Of Gains</em></p>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png" alt="" class="wp-image-289826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h3 class="wp-block-heading">Energy Stocks Rising Friday</h3>
<p>During a day characterized by notably heightened market volatility, with the CBOE VIX surging by more than 20%, U.S. energy stocks emerged as the sole S&amp;P 500 sector to remain in positive territory.</p>
<p>Here is a snapshot of the top 10 performers within the XLE ETF on Friday. </p>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Name</strong></td>
<td><strong>1-Day %</strong></td>
</tr>
<tr>
<td><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>2.25%</td>
</tr>
<tr>
<td><strong>Diamondback Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>1.36%</td>
</tr>
<tr>
<td><strong>Marathon Oil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>1.05%</td>
</tr>
<tr>
<td><strong>Devon Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>1.03%</td>
</tr>
<tr>
<td><strong>Exxon Mobil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</td>
<td>0.95%</td>
</tr>
<tr>
<td><strong>Pioneer Natural Resources Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>)</td>
<td>0.90%</td>
</tr>
<tr>
<td><strong>Targa Resources Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>)</td>
<td>0.72%</td>
</tr>
<tr>
<td><strong>EQT Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td><strong>APA Corporation </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td><strong>ConocoPhillips</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>0.58%</td>
</tr>
</tbody>
</table>
<p><figcaption class="wp-element-caption"><em>Updated at 11:30</em> a.m. ET</figcaption></p></figure></p>
<p><em>Read Now:</em> <em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38212196/inflation-upends-feds-plans-when-do-wall-street-analysts-expect-first-interest-rate">Inflation Upends Fed&#8217;s Plans: When Do Wall Street Analysts Expect First Interest Rate Cut?</a></em></p>
<p><em>Image: Shutterstock</em></p>


<p>Citigroup  analyst Scott Gruber   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Buy and raises the price target from $55 to $62.</p>


Citigroup Maintains Buy on Devon Energy, Raises Price Target to $62

<p>Scotiabank  analyst Paul Cheng   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Sector Outperform and raises the price target from $53 to $67.</p>


Scotiabank Maintains Sector Outperform on Devon Energy, Raises Price Target to $67

<p>UBS  analyst Josh Silverstein   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Neutral and raises the price target from $48 to $57.</p>


UBS Maintains Neutral on Devon Energy, Raises Price Target to $57

<p>Barclays  analyst Betty Jiang   initiates coverage on Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Equal-Weight rating and announces Price Target of $59.</p>


Initiation

Barclays Initiates Coverage On Devon Energy with Equal-Weight Rating, Announces Price Target of $59

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Devon Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.</p>
<p>Today, Benzinga's options scanner spotted 8 options trades for <strong>Devon Energy</strong>.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.</p>
<p>Out of all of the options we uncovered, there was 1 put, for a total amount of $113,400, and 7, calls, for a total amount of $477,837.</p>
<h3>Projected Price Targets</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $57.5 for Devon Energy, spanning the last three months.</p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $40.0 to $57.5 over the preceding 30 days.</p>
<h3>Devon Energy Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712672199_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.2</td>
<td>$57.50</td>
<td>$113.4K</td>
<td>18</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$3.9</td>
<td>$3.8</td>
<td>$3.8</td>
<td>$52.50</td>
<td>$113.2K</td>
<td>2.9K</td>
<td style="text-align: right;">291</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$3.85</td>
<td>$3.8</td>
<td>$3.8</td>
<td>$52.50</td>
<td>$104.1K</td>
<td>2.9K</td>
<td style="text-align: right;">275</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$17.5</td>
<td>$13.0</td>
<td>$14.9</td>
<td>$42.50</td>
<td>$96.8K</td>
<td>690</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.46</td>
<td>$1.41</td>
<td>$1.42</td>
<td>$53.00</td>
<td>$61.6K</td>
<td>697</td>
<td style="text-align: right;">443</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>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.</p>
<p>After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>Trading volume stands at 752,231, with DVN's price up by 0.13%, positioned at $53.5.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 22 days.</li>
</ul>
<h3>Expert Opinions on Devon Energy</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $58.0.</p>
<ul>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $62. </li>
<li>An analyst from Wells Fargo has elevated its stance to Overweight, setting a new price target at $59. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $49. </li>
<li>An analyst from Stifel persists with their Buy rating on Devon Energy, maintaining a target price of $65. </li>
<li>An analyst from Citigroup has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $55. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Devon Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


<p>JP Morgan  analyst Arun Jayaram   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Overweight and raises the price target from $57 to $62.</p>


JP Morgan Maintains Overweight on Devon Energy, Raises Price Target to $62

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Devon Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 30 uncommon options trades for Devon Energy.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.</p>
<p>Out of all of the special options we uncovered, 7 are puts, for a total amount of $355,346, and 23 are calls, for a total amount of $1,789,166.</p>
<h3>What's The Price Target?</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $65.0 for Devon Energy during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $45.0 to $65.0 over the preceding 30 days.</p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712338263_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$10.95</td>
<td>$9.55</td>
<td>$9.6</td>
<td>$45.00</td>
<td>$288.0K</td>
<td>778</td>
<td style="text-align: right;">300</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$3.25</td>
<td>$3.2</td>
<td>$3.25</td>
<td>$55.00</td>
<td>$141.0K</td>
<td>469</td>
<td style="text-align: right;">434</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$7.8</td>
<td>$7.75</td>
<td>$7.8</td>
<td>$50.00</td>
<td>$134.9K</td>
<td>6.3K</td>
<td style="text-align: right;">185</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.64</td>
<td>$1.58</td>
<td>$1.64</td>
<td>$65.00</td>
<td>$131.2K</td>
<td>246</td>
<td style="text-align: right;">822</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$10.55</td>
<td>$10.05</td>
<td>$10.42</td>
<td>$50.00</td>
<td>$125.0K</td>
<td>2.0K</td>
<td style="text-align: right;">350</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>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.</p>
<p>After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Devon Energy's Current Market Status</h3>
<ul>
<li>With a volume of 3,740,819, the price of DVN is up 0.21% at $52.65. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 26 days.</li>
</ul>
<h3>What The Experts Say On Devon Energy</h3>
<p>A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $60.0.</p>
<ul>
<li>Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Devon Energy, targeting a price of $55. </li>
<li>Showing optimism, an analyst from Wells Fargo upgrades its rating to Overweight with a revised price target of $59. </li>
<li>An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $66. </li>
<li>In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $55. </li>
<li>An analyst from Stifel persists with their Buy rating on Devon Energy, maintaining a target price of $65. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Looking At Devon Energy's Recent Unusual Options Activity

<p>Truist Securities  analyst Neal Dingmann   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Buy and lowers the price target from $69 to $66.</p>


Truist Securities Maintains Buy on Devon Energy, Lowers Price Target to $66

<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Devon Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 15 uncommon options trades for Devon Energy.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.</p>
<p>Out of all of the special options we uncovered, 2 are puts, for a total amount of $133,105, and 13 are calls, for a total amount of $529,508.</p>
<h3>Expected Price Movements</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $80.0 for Devon Energy over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In today's trading context, the average open interest for options of Devon Energy stands at 5284.27, with a total volume reaching 7,187.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Devon Energy, situated within the strike price corridor from $47.5 to $80.0, throughout the last 30 days.</p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712160054_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$50.00</td>
<td>$98.3K</td>
<td>1.8K</td>
<td style="text-align: right;">266</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$7.3</td>
<td>$7.25</td>
<td>$7.3</td>
<td>$55.00</td>
<td>$81.7K</td>
<td>20</td>
<td style="text-align: right;">158</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$1.91</td>
<td>$1.89</td>
<td>$1.9</td>
<td>$52.50</td>
<td>$58.3K</td>
<td>8.6K</td>
<td style="text-align: right;">668</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.25</td>
<td>$3.15</td>
<td>$3.15</td>
<td>$47.50</td>
<td>$51.3K</td>
<td>8.5K</td>
<td style="text-align: right;">163</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$0.89</td>
<td>$0.51</td>
<td>$0.89</td>
<td>$80.00</td>
<td>$45.6K</td>
<td>1.7K</td>
<td style="text-align: right;">597</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>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.</p>
<h3>Devon Energy's Current Market Status</h3>
<ul>
<li>Trading volume stands at 2,645,657, with DVN's price up by 1.08%, positioned at $52.17.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 28 days.</li>
</ul>
<h3>Expert Opinions on Devon Energy</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $56.6.</p>
<ul>
<li>An analyst from Citigroup persists with their Buy rating on Devon Energy, maintaining a target price of $55. </li>
<li>An analyst from Wells Fargo upgraded its action to Overweight with a price target of $59. </li>
<li>An analyst from Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $65. </li>
<li>An analyst from RBC Capital has revised its rating downward to Sector Perform, adjusting the price target to $55. </li>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $49. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Devon Energy's Options: A Look at What the Big Money is Thinking

<p>Wells Fargo  analyst Roger Read   upgrades Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) from Equal-Weight to Overweight and raises the price target from $46 to $59.</p>


Upgrades

Wells Fargo Upgrades Devon Energy to Overweight, Raises Price Target to $59

<p>Ratings for Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.</p>
<p>In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated Devon Energy and provided 12-month price targets. The average target is $57.88, accompanied by a high estimate of $75.00 and a low estimate of $49.00. A decline of 3.53% from the prior average price target is evident in the current average. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711652438_0.png" alt="price target chart" /></p>
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
<p>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.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Derrick Whitfield</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$65.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$55.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$55.00</td>
<td>-</td>
</tr>
<tr>
<td>John Freeman</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$52.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$59.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Derrick Whitfield</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$75.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$53.00</td>
<td>$54.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> 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.</li>
<li><strong>Rating:</strong> 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.</li>
<li><strong>Price Targets:</strong> Analysts explore the dynamics of price targets, providing estimates for the future value of Devon Energy's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
<p>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.</p>
<p><a href="https://www.benzinga.com/quote/DVN/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Devon Energy analyst ratings.</strong></a></p>
<h2>All You Need to Know About Devon Energy</h2>
<p>Devon Energy Corp, 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.</p>
<h3>Understanding the Numbers: Devon Energy's Finances</h3>
<p><strong>Market Capitalization:</strong> Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.</p>
<p><strong>Revenue Growth:</strong> Devon Energy's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately <strong>-3.58%</strong>. This indicates a decrease in the company's 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.</p>
<p><strong>Net Margin:</strong> Devon Energy's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of <strong>27.79%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of <strong>9.72%,</strong> the company showcases effective utilization of equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> Devon Energy's ROA excels beyond industry benchmarks, reaching <strong>4.73%</strong>. This signifies efficient management of assets and strong financial health.</p>
<p><strong>Debt Management:</strong> Devon Energy's debt-to-equity ratio is notably higher than the industry average. With a ratio of <b>0.53</b>, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.</p>
<h2>How Are Analyst Ratings Determined?</h2>
<p>Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.</p>
<p>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.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


What Analysts Are Saying About Devon Energy Stock

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><a href="https://investorplace.com/industries/energy/">Energy stocks</a> are again in fashion with investors. During the month of March, the energy sector was the <a href="https://finance.yahoo.com/news/energy-stocks-lead-march-gains-in-sign-of-broadening-market-rally-100041049.html">strongest performer</a> among the 11 stock market sectors. Year-to-date, it is only behind communication services in terms of performance.</p>



<p>A lot is going on in the energy world, fueling higher prices. Middle East turmoil continues while concerns over tighter supplies ratchet up. OPEC production cuts are a major factor in higher prices. As I write this, the <a href="https://oilprice.com/oil-price-charts/">price of Brent crude is $90.42.</a> </p>



<p>The potential for an Iranian strike in Israel is serving to push prices higher. Some <a href="https://www.cnbc.com/2024/04/11/crude-oil-prices-today.html">sources believe a strike is imminent.</a> Such a move would disrupt the supply chain threatening to raise prices higher again. In short, there continues to be reason to believe oil prices will rise higher still. In turn, investors should consider pivoting into energy stocks at the moment.</p>



<h2>Diamondback Energy (FANG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/oilandgasstocks1600-300x169.png" alt="Panorama of Oil and Gas central processing platform in twilight, offshore hard work occupation twenty four working hours. Best oil stocks to buy"><div>Source: Oil and Gas Photographer / Shutterstock.com</div></div><p><strong>Diamondback Energy</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/fang-stock-quote/"><strong>FANG</strong></a></span>) is a major, concentrated oil producer with significant assets in the Permian Basin of the United States. The U.S. oil industry is undergoing a period of consolidation that is also concentrating production domestically in some cases. Diamondback Energy is an excellent example of one such firm.</p>



<p>The company recently agreed to acquire privately held firm <strong>Endeavor Energy Partners</strong>. The <a href="https://www.reuters.com/markets/deals/diamondback-energy-buy-endeavor-energy-26-billion-deal-2024-02-12/">$26 billion purchase</a> strengthens Diamondback Energy&rsquo;s already strong, concentrated position in the Permian Basin of Texas. </p>



<p>Following that acquisition, Diamondback Energy became the third largest producer in the Permian Basin behind <strong>ExxonMobil</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/xom-stock-quote/"><strong>XOM</strong></a></span>) and <strong>Chevron</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/cvx-stock-quote/"><strong>CVX</strong></a></span>). Those other oil majors are not pure-play Permian producers, making Diamondback Energy a unique opportunity overall. </p>



<p>The company should return <a href="https://www.theglobeandmail.com/investing/markets/stocks/DVN/pressreleases/25305441/oil-is-up-these-3-energy-stocks-are-set-to-reward-investors/">half of this year&rsquo;s free cash flow</a> as dividends and repurchases. That&rsquo;s down from a target of 75% prior to the Endeavor Energy Partners acquisition. The positive news is production from that acquisition could more than make up for the potential losses.</p>



<h2>Chevron (CVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/12/chevron1600-300x169.jpg" alt='Chevron (CVX) sing with "diesel," "food mart" and "car wash" written underneath'><div>Source: Sundry Photography / Shutterstock.com</div></div><p>Chevron is generally a go-to option for investors seeking broad exposure to the energy market. It is one of the oil majors and a well-regarded stock overall. It&rsquo;s also a somewhat underappreciated share at the moment while also expressing strong potential. </p>



<p>The company&rsquo;s strong potential is underpinned by the fact that it is a perennial choice of Warren Buffett. His firm generally invests in firms showing free cash flow and a strong commitment to investors through dividends and share buybacks.</p>



<p>CVX has all those attributes in its favor. That&rsquo;s why I believe it continues to express strong potential. However, the company is a bit undervalued at the moment, likely because of its uncertain acquisition of <strong>Hess</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/hes-stock-quote/"><strong>HES</strong></a></span>). </p>



<p>If the deal ultimately goes through, it should serve to strengthen all of those previously mentioned factors. In other words, it would become even more attractive to a Buffett-style investor. </p>



<h2>ExxonMobil (XOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/exxon-stock-1-300x169.jpg" alt="Exxon Retail Gas Location"><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p>ExxonMobil is another major player in the energy industry. I think there&rsquo;s good reason for investors to consider stocks representing major firms like ExxonMobil through the midterm. </p>



<p>The oil and gas market is expected to grow at a <a href="https://www.thebusinessresearchcompany.com/report/oil-and-gas-global-market-report">compound annual rate of 5% to 6%</a> from 2024 through at least 2028. Investors exposed to diverse, large operations like those at XOM should be able to secure such returns. </p>



<p>The company is primarily committed to carbon-intensive investments &mdash; i.e., oil. However, it is also actively taking steps to reduce its carbon intensity overall. That arguably matters to investors and ExxonMobil&rsquo;s efforts could increase demand.</p>



<p>XOM shares are also Dividend Aristocrats, <a href="https://www.gurufocus.com/stock/XOM/dividend">having last been reduced in 1983.</a> Income stocks don&rsquo;t get much more reliable than Exxon Mobil. Overall, its shares are an excellent choice, providing exposure to secular growth and income opportunities. The American firm has a less green approach than its European counterparts, and that looks like a better choice for now.</p>



<h2>Schlumberger (SLB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/schlumberger_slb1600-300x169.jpg" alt="slb stock"><div>Source: Valentin Martynov / Shutterstock.com</div></div><p>It&rsquo;s logical to buy shares of stock in oil services firm<strong> Schlumberger</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/slb-stock-quote/"><strong>SLB</strong></a></span>) at the moment. Oil prices are as high as they&rsquo;ve been over the last 6 months, suggesting drilling activity will continue to rise. </p>



<p>The relationship between <a href="https://cepr.org/voxeu/columns/revisiting-relationship-between-oil-prices-and-costs-upstream-industry#:~:text=Following%20a%2010%25%20increase%20(decrease,be%20observed%20in%20Figure%201).">oil prices and drilling activity</a> is well correlated. For every 10% increase in price, there is a 4% increase in drilling activity. That same relationship holds as prices decrease. Schlumberger is well-positioned to benefit as oil prices surge again.</p>



<p>Schlumberger is also in acquisition mode, which is prevalent throughout the energy sector. The company is purchasing <strong>ChampionX</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/chx-stock-quote/"><strong>CHX</strong></a></span>), an <a href="https://www.barrons.com/articles/slb-buy-championx-stock-4ff3a7fa">energy firm</a> with lower cyclicality overall. Schlumberger will likely leverage that stability to increase dividends and buybacks that require greater stability overall. Therefore, SLB shares are becoming increasingly attractive to a more conservative energy investor. Conservative investments are a logical choice as the industry undergoes heavy consolidation. These larger firms will have significant asset bases and subsequent stability as the number of players shrinks. </p>



<h2>Devon Energy (DVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/devon-dvn-1600-300x169.jpg" alt="The logo for Devon Energy (DVN) is displayed on a sign outside an office."><div>Source: Jeff Whyte / Shutterstock.com</div></div><p><strong>Devon Energy</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/dvn-stock-quote/"><strong>DVN</strong></a></span>) is an excellent choice for investors as oil prices continue to rise. The firm&rsquo;s stock includes a dividend that operates on a fixed plus variable schedule. That means the company pays a significant bump in dividends as operating metrics improve. </p>



<p>Devon Energy is also noted to have a <a href="https://seekingalpha.com/article/4677213-devon-energy-disciplined-approach">breakeven price</a> of approximately $40 per barrel of West Texas Intermediate oil (<a href="https://investorplace.com/stock-quotes/wti-stock-quote/"><strong>WTI</strong></a>). WTI prices are currently at $85 and change. With prices continuing to rise over the past few months, it is logical to assume that Devon Energy&rsquo;s operating metrics are also improving.</p>



<p>Shares have undergone a U-shaped recovery in 2024, highly suggesting that the fixed plus variable dividend will also increase. The company increased its most recent dividend by 2 cents to $0.22. Although that is not a substantial increase, it should be noted that it doesn&rsquo;t take into account more recent resurgences in oil prices. Devon Energy stock is a solid choice overall, given low operating costs and one that rewards investors during periods of outperformance.</p>



<h2>Shell (SHEL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/royal-dutch-shell-rds1600-300x169.jpg" alt="Shell logo on a gas station in Iceland. SHEL stock"><div>Source: JuliusKielaitis / Shutterstock.com</div></div><p><strong>Shell</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/shel-stock-quote/"><strong>SHEL</strong></a></span>) shocked the investment world a few years ago when it decided to cut its dividend. The news was not well received by investors and its stock consequently suffered.</p>



<p>Shell has since undertaken strong efforts to regain the trust of investors through its dividend programs. I&rsquo;d argue that the company is again reliable for income investors. Shell completed a share buyback program at the beginning of this year valued at $3.5 billion. That buyback program began in November of 2023.</p>



<p>More recently, <a href="https://www.reuters.com/markets/commodities/shells-2023-profit-falls-30-28-billion-buybacks-extended-2024-02-01/">Shell increased its quarterly dividend by 4%.</a> The positive news comes after the company reported stronger-than-expected earnings. Shell continues to make efforts to convince investors that it is the company it once was again.</p>



<p>Oil prices are strong again, suggesting Shell can continue to reward investors moving forward.</p>



<h2>Halliburton (HAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/hal1600a-300x169.jpg" alt="The Halliburton (HAL) logo on the website homepage. HAL stock price prediction."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>Investors should buy <strong>Halliburton</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/hal-stock-quote/"><strong>HAL</strong></a></span>) stock for the same reason they should consider Schlumberger. Both firms provide oilfield services and products in particularly high demand as oil prices rise.</p>



<p>That said, Halliburton also proves it can do well even in tougher times. Case in point, in 2023, the company&rsquo;s <a href="https://www.halliburton.com/en/about-us/press-release/halliburton-announces-fourth-quarter-2023-results-increases-dividend">revenues increased by 13%</a> despite a tough year overall for energy stocks. That is good news in and of itself, but particularly so given that the company should do much better in the current environment. Energy prices are rising and, as we have seen with such a phenomenon, are correlated with increased opportunities for oilfield service providers.</p>



<p>Exploration &amp; Production (E&amp;P) activity will remain strong as long as the current global turmoil continues. That is highly likely to be the case given the complexities of those situations and the overall number thereof. Halliburton is a solid choice in most operational environments and a particularly strong choice at the moment. </p>



<p><em>On the date of publication, Alex Sirois did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com</em> <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em>.</a></p>
<div><p>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/dont-miss-out-7-hot-energy-stocks-you-need-to-own-now/">Don&#8217;t Miss Out: 7 Hot Energy Stocks You Need to Own Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Don't Miss Out: 7 Hot Energy Stocks You Need to Own Now

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>There are plenty of overpriced stocks in the market for investors to consider. Finding underpriced stocks is the real key. But as value-conscious investors can attest, it&rsquo;s not such an easy task.</p>



<p>The stock market has now become oversaturated with stocks that have valuations exceeding what most rational investors would have paid decades ago. However, there are <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> that offer growth, even during this time of difficult-to-assess market dynamics. With consistent revenue and sales growth, these companies offer plenty of opportunity for investors who are seeking stable and substantial growth over the long-term.</p>



<p>Although these companies may have faced problems in their respective industries, they have remained committed to innovating, expanding and adapting to the shifts being seen in the overall market. Here&rsquo;s why I think these three underpriced stocks are worth a spot in investor portfolios right now. </p>



<h2><strong>Restaurant Brands (QSR)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/qsr1600-300x169.jpg" alt=""><div>Source: Shutterstock</div></div><p>If you&rsquo;re looking for a no-brainer growth stock that isn&rsquo;t going to break the bank, <strong>Restaurant Brands</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/qsr-stock-quote/"><strong>QSR</strong></a>) could be your best bet right now. With its popular brands like Burger King and Tim Horton&rsquo;s, the company has a cash flow profile that&rsquo;s about as defensive as they come. From that perspective, I view Restaurant Brands as a buy-and-hold-forever stock. </p>



<p>Trading at right around $70 per share, with a dividend yield of around 3.3%, Restaurant Brands provides a value, income and growth opportunity most companies can&rsquo;t. With a diversified portfolio of restaurant offerings and a proven growth track record, the company has plenty of potential to continue to see big upside, particularly in high-growth Asian markets.</p>



<p>In 2023, Restaurant Brands&rsquo; <a href="https://www.rbi.com/English/news/news-details/2024/Restaurant-Brands-International-Inc.-Reports-Full-Year-and-Fourth-Quarter-2023-Results/default.aspx">full-year report</a> showed strong annual sales growth of more than 12%, which drove an impressive 16% surge in the company&rsquo;s earnings per share. These sorts of numbers clearly brought investors heightened confidence in the stock, and highlighted its ability to grow through rather uncertain times. At only 18x earnings for this kind of business model, it&rsquo;s a steal in my view.</p>



<h2><strong>Alimentation Couche-Tard (ANCTF)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/gas-prices1600-1-300x169.png" alt="Gas station attendant at work, gas price predictions"><div>Source: Minerva Studio / Shutterstock.com</div></div><p>With over 14,000 locations in 24 countries internationally, <strong>Alimentation Couche-Tard </strong>(OTCMKTS:<a href="https://investorplace.com/stock-quotes/anctf-stock-quote/"><strong>ANCTF</strong></a>) comes second in this list for underpriced <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> to own. The renowned gas station and convenience store purveyor has seen consistent and impressive performance over the past decade. Much of this is driven by the company&rsquo;s growth-by-acquisition model, in which Couche-Tard scoops up family-run gas stations, and rolls in its high-efficiency business models to improve output. </p>



<p>The company was recently brought up as a top idea at the <a href="https://www.forbes.com/sites/jacobwolinsky/2024/04/10/here-are-some-of-the-best-ideas-from-the-2024-sohn-new-york-conference/?sh=42689165203c">Sohn business conference</a>, where some of the smartest investors share their ideas for undervalued stocks. So, don&rsquo;t take it from me. There&rsquo;s some smart money betting this company has plenty of upside left from here. </p>



<p>Wall Street&rsquo;s <a href="https://simplywall.st/stocks/ca/consumer-retailing/tsx-atd/alimentation-couche-tard-shares/news/is-it-time-to-consider-buying-alimentation-couche-tard-inc-t-1">valuation model states that Couche-Tard is reasonably priced</a>, though I tend to disagree. With a price-to-earnings multiple of only 18x, and a dividend yield just shy of 1% (really the cherry on top when you zoom out and look at this company&rsquo;s growth chart), there&rsquo;s plenty of upside ahead, if you ask me.</p>



<h2><strong>Devon Energy (DVN)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/devon-dvn-1600-300x169.jpg" alt="The logo for Devon Energy (DVN) is displayed on a sign outside an office."><div>Source: Jeff Whyte / Shutterstock.com</div></div><p>Compared to other oil and gas companies in the market now, <strong>Devon Energy</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/dvn-stock-quote/"><strong>DVN</strong></a>) is a standout winner, in my view. This company&rsquo;s unique fixed/variable dividend structure makes it a stock worth owning. That&rsquo;s because in good times, the company pays out a greater yield, and in poor times, the company can dial back distributions and focus on supporting its balance sheet. Right now, the company is very generous with its distributions, paying out a 4.6% yield (excluding special dividends, that is).</p>



<p>In a report by <a href="http://api.cloudquote.io/benzinga/getAnalystRatings.json/">Benzinga</a>, several target price increases have been noted for DVN stock. Analysts appear to be focused on similar factors, with the rising price of oil helping to boost the company&rsquo;s outlook. Analysts from a range of outfits have raised their price targets on DVN stock (currently at $52 per share, give or take); Citigroup raised their target to $62, Barclays to $59; UBS Group to $57 from $48, and JPMorgan Chase to $62 from $57.&nbsp;I tend to agree that this stock could be the premier way to play the energy sector from a value perspective, given its P/E ratio of only 9x.</p>



<p><em>On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/value-and-growth-buy-these-3-underpriced-stocks-in-april/">Value and Growth? Buy These 3 Underpriced Stocks in April.</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Oil prices have been very volatile in recent days following Iran&rsquo;s attack on Israel over the weekend. Although the escalation was less severe than feared, commodity investors are still likely to price in concerns over potential disruptions in oil supply. Along these lines, we look at three <a href="https://investorplace.com/industries/energy/oil/">oil stocks</a> to buy amid rising Middle East tensions.&nbsp;</p>



<p>The initial fears of an escalation had caused a spike in oil prices on Friday, but these fears were mitigated when Israel successfully intercepted the attack, involving over 300 missiles and drones.</p>



<p>In response to the increasing risks, <strong>Citi </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/c-stock-quote/"><strong>C</strong></a>) raised its short-term forecast for oil prices from $80 to $88 per barrel, citing a higher risk premium. The bank also noted that while the current market hasn&rsquo;t fully priced in the possibility of an ongoing conflict between Iran and Israel, such a scenario could potentially push oil prices above $100 per barrel.&nbsp;</p>



<p>However, Citi cautioned that any signs of de-escalation could quickly reverse this trend, potentially dropping prices to the high $70s or low $80s. Similarly, <strong>Societe Generale </strong>(OTCMKTS:<a href="https://investorplace.com/stock-quotes/scgly-stock-quote/"><strong>SCGLY</strong></a>) also adjusted its forecasts, now expecting Brent crude to reach $91 per barrel in the second quarter and West Texas Intermediate to hit $87.5 per barrel.&nbsp;</p>



<p>For 2024, Socgen anticipates Brent to average $86.8 and WTI $83.3 per barrel. The bank highlighted that the probability of direct military conflict between the United States and Iran, while still considered a tail risk, has risen from 5% to 15%, which could lead to a significant spike in crude prices, potentially exceeding $140 per barrel.</p>



<p>&ldquo;Beyond the short-term spike induced by geopolitics, our base case for oil remains a $90 Brent through May,&rdquo; <strong>J.P. Morgan </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/"><strong>JPM</strong></a>) <a href="https://www.reuters.com/markets/commodities/iran-attack-israel-spurs-banks-hike-oil-price-forecasts-2024-04-15/" target="_blank">said in</a> its report to clients.</p>



<h2>ConocoPhillips (COP)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/04/concophillips.png"><img width="300" height="199" src="https://investorplace.com/wp-content/uploads/2024/04/concophillips-300x199.png" alt="Oil Stocks ConocoPhillips (COP)"></a><p><strong>ConocoPhillips</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/cop-stock-quote/"><strong>COP</strong></a>), one of the top three oil stocks, and a major global energy corporation, benefits significantly from higher oil prices due to its extensive upstream operations, which focus on oil and gas exploration and production. Oil prices have surged to their <a href="https://tokenist.com/oil-prices-soar-amid-middle-east-tensions-and-supply-disruptions/" target="_blank">highest levels since October</a>, increasing crude prices which boost the company&rsquo;s revenue and profitability, enhancing shareholder value in favorable market conditions.</p>



<p>Back in February, ConocoPhillips <a href="https://finance.yahoo.com/news/conocophillips-cop-posts-3-0-135448903.html" target="_blank">reported</a> robust fourth quarter results, surpassing analyst expectations. The company&rsquo;s adjusted earnings per share reached $2.40, significantly higher than the consensus of $2.07.</p>



<p>Adjusted net income also exceeded forecasts, coming in at $2.86 billion against an expected $2.5 billion. Additionally, their cash flow from operations was $5.26 billion, slightly above the estimate of $5.21 billion.</p>



<p>In their commentary, management focused on several key areas including upstream production outlook and strategies for capital allocation in 2024. They emphasized plans to enhance capital returns and provided updates on strategic priorities like inorganic growth and ongoing organic growth projects, which makes COP one of the top oil stocks to buy.</p>



<p>Analysts remain optimistic about ConocoPhillips&rsquo; future amid expectations of the capital returns yield of about 7% for 2024/2025 and an average return on capital employed (ROCE) of approximately 18% for 2024-2026.</p>



<h2>Baker Hughes (BKR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/bkr-stock-1-300x169.jpg" alt="The Baker Hughes (BKR) sign and office building in Houston, Texas."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p><strong>Baker Hughes</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/bkr-stock-quote/"><strong>BKR</strong></a>) benefits from higher oil prices as they typically increase drilling and production activities, boosting demand for the company&rsquo;s oilfield services and equipment. In layman&rsquo;s terms, this heightened activity can lead to greater utilization of Baker Hughes&rsquo; services.</p>



<p>Baker Hughes recently <a href="https://www.bloomberg.com/news/videos/2024-01-24/baker-hughes-on-q4-earnings-and-2024-oil-estimates-video" target="_blank">provided</a> its financial outlook for the first quarter and full year of 2024, revealing expectations of sustained growth across its various segments. For the first quarter, the company anticipates revenues ranging from $6.10 billion to $6.6 billion, with a midpoint slightly below the estimated $6.49 billion.&nbsp;</p>



<p>Looking ahead to the full year of 2024, Baker Hughes expects total revenues to range from $26.50 billion to $28.50 billion, with the consensus estimate positioned at $28.07 billion.&nbsp;</p>



<p>BKR stock is modestly down year-to-date given the investor focus on AI and <a href="https://investorplace.com/industries/technology/">tech stocks</a>, which makes a solid candidate for outperformance if oil prices continue to grind higher.</p>



<h2>Devon Energy (DVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/devon-dvn-1600-300x169.jpg" alt="The logo for Devon Energy (DVN) is displayed on a sign outside an office."><div>Source: Jeff Whyte / Shutterstock.com</div></div><p><strong>Devon Energy</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/dvn-stock-quote/"><strong>DVN</strong></a>) is one of the companies that benefit notably from higher oil prices. This exposure enhances profitability as it boosts cash flow from its operations, particularly in its key shale production areas.&nbsp;</p>



<p>This oil stock recently received a boost after <strong>Wells Fargo</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/wfc-stock-quote/"><strong>WFC</strong></a>) commodity analysts upgraded the rating from Equal Weight to Overweight, while also boosting the price target from $46.00 to $59.00.&nbsp;</p>



<p>This was the 4th analyst upgrade Devon stock received since November with Wall Street analysts <a href="https://www.streetinsider.com/Analyst+Comments/Wells+Fargo+Upgrades+Devon+Energy+%28DVN%29+to+Overweight%2C+attractive+entry+point/23002921.html" target="_blank">seeing</a> a combination of strong fundamentals and attractive valuation, which finally seems favorable when compared to peers.&nbsp;</p>



<p>Initially, Devon&rsquo;s premium valuation deterred higher ratings, but its current position, showing strong forward free cash flow (<span>FCF</span>) yields, presents a compelling entry point, Wells Fargo said.&nbsp;</p>



<p>&ldquo;We now believe the stock offers an attractive entry point across most valuation metrics,&rdquo; they said in a note.</p>



<p><em>On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines</a>.</em></p>
<div><p>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/riding-the-oil-wave-3-stocks-to-buy-amid-middle-east-tensions/">Riding the Oil Wave: 3 Stocks to Buy Amid Middle East Tensions</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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