Devon Energy (DVN) Stock Forecast & Price Target

$30.77 +0.25 (+0.82%)

(As of 12/20/2024 05:45 PM ET)

Devon Energy - Analysts' Recommendations and Stock Price Forecast (2025)

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
11

Buy
11

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, 11 have given a hold rating, and 11 have given a buy rating for DVN.

Consensus Price Target

$50.05
62.66% Upside

According to the 22 analysts' twelve-month price targets for Devon Energy, the average price target is $50.05. 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 62.66% from the current price of $30.77.

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DVN Analyst Ratings Over Time

Type	Current Forecast 12/22/23 to 12/21/24	1 Month Ago 11/22/23 to 11/21/24	3 Months Ago 9/23/23 to 9/22/24	1 Year Ago 12/22/22 to 12/22/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	11 Buy rating(s)	12 Buy rating(s)	13 Buy rating(s)	11 Buy rating(s)
Hold	11 Hold rating(s)	10 Hold rating(s)	5 Hold rating(s)	5 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$50.05	$51.85	$57.00	$57.24
Forecasted Upside	62.66% Upside	33.72% Upside	39.74% Upside	24.94% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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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	2.50	2.63	2.51
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	62.66% Upside	1,671.89% Upside	14.52% Upside
News Sentiment Rating	Positive News See Recent DVN News	Positive 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
12/17/2024	Piper Sandler 2 of 5 stars		Lower Target	Overweight ➝ Overweight	$57.00 ➝ $53.00	+66.04%
12/17/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$49.00 ➝ $43.00	+33.91%
12/16/2024	Mizuho 2 of 5 stars		Lower Target	Outperform ➝ Outperform	$51.00 ➝ $47.00	+38.72%
12/5/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Neutral	$43.00	+18.49%
11/26/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$55.00 ➝ $48.00	+27.46%
11/7/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Dingmann Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$49.00 ➝ $43.00	+7.47%
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11/5/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$58.00 ➝ $51.00	+29.74%
11/5/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$54.00 ➝ $46.00	+17.02%
10/18/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$63.00 ➝ $62.00	+52.82%
10/15/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
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%
10/4/2024	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%
9/18/2024	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%
9/3/2024	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%
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%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:07 AM 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, December 13, 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. recently reported a quarterly earnings per share (EPS) of $1.10, exceeding analysts' expectations of $1.09, indicating strong financial performance.
The company has a market capitalization of approximately $23.84 billion, reflecting its significant size and stability in the energy sector.
Devon Energy Co. has declared a quarterly dividend of $0.22, which translates to an annualized dividend yield of 2.60%, providing a steady income stream for investors.
Recent institutional investments, such as Petrus Trust Company LTA increasing its holdings by 394.7%, suggest growing confidence in the company's future prospects.
The current stock price of Devon Energy Co. is $36.29, which may present a buying opportunity for investors looking for value in the energy market.

Devon Energy
Bear Case

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

Analysts have recently downgraded price targets for Devon Energy Co., with firms like UBS Group lowering their target from $53.00 to $47.00, indicating potential concerns about future performance.
The stock has experienced volatility, with a beta of 1.99, suggesting that it is more volatile than the market, which could pose risks for conservative investors.
Devon Energy Co. has a price-to-earnings (P/E) ratio of 6.97, which, while low, may indicate that the stock is undervalued or that investors have concerns about future earnings growth.
Despite a strong quarterly performance, the company’s revenue growth of 4.9% year-over-year may not be sufficient to meet the expectations of growth-oriented investors.
Hedge funds and institutional investors own 69.72% of the company's stock, which could lead to increased volatility if these large stakeholders decide to sell their positions.

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 $50.05, with a high forecast of $66.00 and a low forecast of $43.00.
: 22 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 11 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" DVN shares.
: According to analysts, Devon Energy's stock has a predicted upside of 62.66% based on their 12-month stock forecasts.
: Over the previous 90 days, Devon Energy's stock had 2 downgrades by analysts.
: Devon Energy has been rated by research analysts at Barclays, Benchmark, BMO Capital Markets, Citigroup, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Mizuho, Piper Sandler, Raymond James, Scotiabank, Susquehanna, TD Cowen, Truist Financial, 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 2.50 while the average consensus rating score for "oils/energy" companies is 2.63. Learn more on how DVN compares to other companies.

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This page (NYSE:DVN) was last updated on 12/21/2024 by MarketBeat.com Staff

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Devon Energy (DVN) Stock Forecast & Price Target