Devon Energy (DVN) Stock Forecast & Price Target

$37.71 -0.56 (-1.46%)

(As of 11/26/2024 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
10

Buy
12

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, 10 have given a hold rating, and 12 have given a buy rating for DVN.

Consensus Price Target

$51.15
35.64% Upside

According to the 22 analysts' twelve-month price targets for Devon Energy, the average price target is $51.15. 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 35.64% from the current price of $37.71.

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DVN Analyst Ratings Over Time

Type	Current Forecast 11/27/23 to 11/26/24	1 Month Ago 10/28/23 to 10/27/24	3 Months Ago 8/29/23 to 8/28/24	1 Year Ago 11/27/22 to 11/27/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	12 Buy rating(s)	14 Buy rating(s)	13 Buy rating(s)	8 Buy rating(s)
Hold	10 Hold rating(s)	8 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	$51.15	$52.53	$58.75	$57.94
Forecasted Upside	35.64% Upside	34.03% Upside	31.77% Upside	28.96% 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	2.55	2.63	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	35.47% Upside	1,546.28% Upside	6.38% 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
11/26/2024	Citigroup 3 of 5 stars		Lower Target	Buy ➝ Buy	$55.00 ➝ $48.00	+27.46%
11/18/2024	Piper Sandler 2 of 5 stars		Boost Target	Overweight ➝ Overweight	$56.00 ➝ $57.00	+46.72%
11/7/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$50.00 ➝ $49.00	+24.94%
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%
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%
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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%
10/9/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$53.00 ➝ $51.00	+23.34%
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%
9/12/2024	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%
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 Tuesday at 06:39 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 Monday, November 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. reported a strong quarterly earnings result with an earnings per share (EPS) of $1.10, exceeding the consensus estimate of $1.09. This indicates solid financial performance and effective management, which can be attractive to investors.
The company has a market capitalization of $25.91 billion, suggesting it is a significant player in the energy sector, which can provide stability and growth potential for investors.
Currently, the stock price is $39.45, which is below the average target price of $51.85 set by analysts. This could indicate potential for price appreciation, making it an appealing investment opportunity.
Devon Energy Co. has a dividend yield of 2.23%, which can provide a steady income stream for investors. The company’s dividend payout ratio is only 16.33%, suggesting that it has room to increase dividends in the future.
The company has shown a revenue increase of 4.9% compared to the same quarter last year, indicating growth and resilience in its operations, which can be a positive sign for potential investors.

Devon Energy
Bear Case

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

Several analysts have recently downgraded their target prices for Devon Energy Co., with Scotiabank lowering it from $60.00 to $48.00. Such downgrades can signal a lack of confidence in the stock's near-term performance.
The stock has a beta of 2.03, indicating higher volatility compared to the market. This means that the stock price may experience larger fluctuations, which can be risky for investors seeking stability.
Devon Energy Co. has a current ratio of 1.11 and a quick ratio of 1.01, which are relatively low. This could indicate potential liquidity issues, meaning the company may struggle to meet short-term obligations.
With one analyst rating the stock as a sell and ten issuing hold ratings, there is a mixed sentiment among analysts, which may create uncertainty for potential investors.
The company’s price-to-earnings (P/E) ratio is 7.32, which is relatively low. While this could indicate that the stock is undervalued, it may also suggest that investors are cautious about the company's future growth prospects.

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 $51.15, 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 10 hold ratings and 12 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 35.64% based on their 12-month stock forecasts.
: Over the previous 90 days, Devon Energy's stock had 1 downgrade 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, Morgan Stanley, Piper Sandler, Raymond James, Royal Bank of Canada, Scotiabank, Susquehanna, TD Cowen, 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 2.55 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 11/26/2024 by MarketBeat.com Staff

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Devon Energy (DVN) Stock Forecast & Price Target