Devon Energy (DVN) Stock Forecast & Price Target

$39.95

+0.83 (+2.12%)

(As of 01:08 PM 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 20 Analyst Ratings

Sell
0

Hold
6

Buy
14

Based on 20 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 20 analysts, 6 have given a hold rating, 13 have given a buy rating, and 1 has given a strong buy rating for DVN.

Consensus Price Target

$55.71
40.60% Upside

According to the 20 analysts' twelve-month price targets for Devon Energy, the average price target is $55.71. 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 40.60% from the current price of $39.95.

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DVN Analyst Ratings Over Time

Type	Current Forecast 10/2/23 to 10/1/24	1 Month Ago 9/2/23 to 9/1/24	3 Months Ago 7/4/23 to 7/3/24	1 Year Ago 10/2/22 to 10/2/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	13 Buy rating(s)	13 Buy rating(s)	13 Buy rating(s)	9 Buy rating(s)
Hold	6 Hold rating(s)	5 Hold rating(s)	4 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	$55.71	$58.75	$59.24	$63.17
Forecasted Upside	40.60% Upside	31.20% Upside	23.12% Upside	38.37% 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	2.75	2.60	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	42.40% Upside	213.04% Upside	6.15% 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
9/30/2024	Evercore ISI 2 of 5 stars		Lower Target	In-Line ➝ In-Line	$55.00 ➝ $50.00	+27.88%
9/30/2024	Truist Financial 2 of 5 stars		Lower Target	Buy ➝ Buy	$60.00 ➝ $49.00	+25.26%
9/18/2024	UBS Group 4 of 5 stars		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%
9/4/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$65.00 ➝ $63.00	+46.55%
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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%
8/15/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$65.00 ➝ $57.00	+28.12%
8/14/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$57.00 ➝ $55.00	+23.21%
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%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$67.00 ➝ $60.00	+29.09%
7/3/2024	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	Upgrade	Strong-Buy
6/14/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy	$64.00	+41.62%
5/13/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$57.00 ➝ $61.00	+22.17%
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%
4/10/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight	$59.00	+8.98%
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%
10/19/2022	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$75.00	+7.50%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 01:33 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 Saturday, September 21, 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 $42.24, potentially offering a good entry point for investors.
Positive analyst ratings with a consensus of "Moderate Buy" and an average price target of $58.63 indicate growth potential.
Recent investments by hedge funds and institutional investors show confidence in the company's future performance.
Strong market capitalization of $26.45 billion provides stability and liquidity for investors.
Low price-to-earnings ratio of 8.06 suggests the stock may be undervalued compared to industry peers.

Devon Energy
Bear Case

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

Recent price target cuts by analysts, such as JPMorgan Chase & Co., may indicate short-term challenges for the company.
Fluctuating energy prices and market volatility could impact Devon Energy Co.'s profitability.
Debt-to-equity ratio of 0.45 may raise concerns about the company's financial leverage.
Decrease in stock price from previous highs could signal a downtrend in the short term.
Beta of 2.07 indicates higher volatility compared to the market average, potentially leading to greater risk for investors.

DVN Forecast - Frequently Asked Questions

: According to the research reports of 20 Wall Street equities research analysts, the average twelve-month stock price forecast for Devon Energy is $55.71, with a high forecast of $66.00 and a low forecast of $43.00.
: 20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Devon Energy in the last year. There are currently 6 hold ratings, 13 buy ratings and 1 strong buy rating 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 39.44% based on their 12-month stock forecasts.
: Over the previous 90 days, Devon Energy's stock had 1 upgrade by analysts.
: Devon Energy has been rated by research analysts at BMO Capital Markets, Evercore ISI, JPMorgan Chase & Co., Morgan Stanley, Piper Sandler, Royal Bank of Canada, Sanford C. Bernstein, Scotiabank, Susquehanna, Truist Financial, UBS Group, Wells Fargo & Company, and Wolfe Research in the past 90 days.
: Analysts like Devon Energy more than other "oils/energy" companies. The consensus rating score for Devon Energy is 2.75 while the average consensus rating score for "oils/energy" companies is 2.60. Learn more on how DVN compares to other companies.

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This page (NYSE:DVN) was last updated on 10/1/2024 by MarketBeat.com Staff

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