Devon Energy (DVN) Stock Forecast & Price Target

$38.32

-0.36 (-0.93%)

(As of 11/1/2024 ET)

Devon Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 22 Analyst Ratings

Sell
0

Hold
8

Buy
14

Based on 22 Wall Street analysts who have issued ratings for Devon Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 22 analysts, 8 have given a hold rating, and 14 have given a buy rating for DVN.

Consensus Price Target

$52.53
37.07% Upside

According to the 22 analysts' twelve-month price targets for Devon Energy, the average price target is $52.53. The highest price target for DVN is $66.00, while the lowest price target for DVN is $43.00. The average price target represents a forecasted upside of 37.07% from the current price of $38.32.

Get the Latest News and Ratings for DVN and Related Stocks

Enter your email address to receive the latest news and analysts' ratings for Devon Energy and its competitors.

DVN Analyst Ratings Over Time

Type	Current Forecast 11/3/23 to 11/2/24	1 Month Ago 10/4/23 to 10/3/24	3 Months Ago 8/5/23 to 8/4/24	1 Year Ago 11/3/22 to 11/3/23
Strong Buy	0 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	14 Buy rating(s)	13 Buy rating(s)	13 Buy rating(s)	8 Buy rating(s)
Hold	8 Hold rating(s)	7 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$52.53	$54.11	$59.13	$60.44
Forecasted Upside	37.07% Upside	29.45% Upside	38.17% Upside	27.68% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

Why Buffett, Bezos, & Congress Are Piling Into This One Sector (Ad)

Why are Warren Buffett, Jeff Bezos, Michael Bloomberg, “The Walmart Family”, Bill Gates, and 48 members of Congress shifting their stocks in a frenzy? And why are they all piling into ONE unique corner of the market…

Click here for the details

DVN Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

DVN Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Devon Energy Stock vs. The Competition

Type	Devon Energy	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.64	2.64	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	37.07% Upside	1,529.38% Upside	10.58% Upside
News Sentiment Rating	Positive News See Recent DVN News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/18/2024	Wells Fargo & Company 3 of 5 stars		Reiterated Rating	Sector Outperform ➝ Sector Outperform
10/18/2024	Susquehanna 2 of 5 stars		Lower Target	Positive ➝ Positive	$63.00 ➝ $62.00	+52.82%
10/15/2024	Benchmark 2 of 5 stars		Reiterated Rating	Hold
10/15/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$57.00 ➝ $56.00	+30.57%
10/10/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$60.00 ➝ $48.00	+12.12%
10/9/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$53.00 ➝ $51.00	+23.34%
Get the Latest News and Ratings for DVN and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Devon Energy and its competitors with MarketBeat's FREE daily newsletter.
10/4/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	P. Jungwirth Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Outperform ➝ Outperform	$52.00 ➝ $48.00	+13.29%
10/3/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$55.00 ➝ $46.00	+11.84%
10/3/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$45.00	+11.11%
9/30/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	In-Line ➝ In-Line	$55.00 ➝ $50.00	+27.88%
9/30/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$60.00 ➝ $49.00	+25.26%
9/18/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$53.00 ➝ $47.00	+17.15%
9/16/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$55.00 ➝ $51.00	+29.15%
9/12/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$64.00 ➝ $51.00	+27.02%
9/3/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Sector Perform ➝ Sector Perform	$57.00 ➝ $57.00	+31.61%
7/18/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Peer Perform
7/17/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform ➝ Market Perform	$48.00 ➝ $43.00	-11.58%
6/14/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy	$64.00	+41.62%
4/23/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$65.00 ➝ $66.00	+25.48%
4/11/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$55.00 ➝ $62.00	+15.74%
1/24/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$53.00 ➝ $52.00	+25.24%
11/9/2023	Pickering Energy Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform
6/13/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$63.00 ➝ $58.00	+17.39%
11/17/2022	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$77.00 ➝ $90.00	+26.16%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 05:18 PM ET.

Should I Buy Devon Energy Stock? DVN Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, October 25, 2024. Please send any questions or comments about these Devon Energy pros and cons to contact@marketbeat.com.

Devon Energy
Bull Case

Here are some ways that investors could benefit from investing in Devon Energy Co.:

Devon Energy Co.'s stock price is currently at an attractive level, providing a potential buying opportunity for investors.
Devon Energy Co. has consistently demonstrated strong financial performance, with a healthy return on equity of 29.14%.
The company has a diversified operational presence in key basins like Delaware, Eagle Ford, Anadarko, Williston, and Powder River, reducing risk exposure.
Devon Energy Co. has a moderate buy rating from analysts, indicating positive sentiment towards the stock.
With a dividend yield of 2.05%, Devon Energy Co. offers investors a steady income stream through dividends.

Devon Energy
Bear Case

Investors should be bearish about investing in Devon Energy Co. for these reasons:

Devon Energy Co.'s stock has experienced a decline in price, potentially signaling underlying challenges in the industry or company.
The company's target price has been revised downwards by several financial institutions, indicating a lack of consensus on future growth prospects.
Despite a strong historical performance, Devon Energy Co. faces uncertainties in the energy sector, which could impact its future profitability.
Market conditions and regulatory changes may pose risks to Devon Energy Co.'s operations and financial stability.
Investors should carefully monitor industry trends and company developments to make informed decisions about investing in Devon Energy Co.

DVN Forecast - Frequently Asked Questions

: According to the research reports of 22 Wall Street equities research analysts, the average twelve-month stock price forecast for Devon Energy is $52.53, with a high forecast of $66.00 and a low forecast of $43.00.
: 22 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 8 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" DVN shares.
: According to analysts, Devon Energy's stock has a predicted upside of 37.07% based on their 12-month stock forecasts.
: Devon Energy has been rated by research analysts at Barclays, Benchmark, BMO Capital Markets, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Mizuho, Morgan Stanley, Piper Sandler, Royal Bank of Canada, Scotiabank, Susquehanna, Truist Financial, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Devon Energy less than other "oils/energy" companies. The consensus rating score for Devon Energy is 2.64 while the average consensus rating score for "oils/energy" companies is 2.64. Learn more on how DVN compares to other companies.

Stock Forecasts and Research Tools

Related Companies

Today's Ratings

Top Rated Stocks

More Ratings Tools

Why Buffett, Bezos, & Congress Are Piling Into This One Sector (Ad)

Click here for the details

This page (NYSE:DVN) was last updated on 11/2/2024 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Devon Energy (DVN) Stock Forecast & Price Target