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Wall Street JournalIn-Depth Examination Of 18 Analyst Recommendations For Devon Energy
Devon Energy (NYSE:DVN) underwent analysis by 18 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 12 | 5 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 5 | 4 | 0 | 0 |
| 2M Ago | 0 | 3 | 1 | 0 | 0 |
| 3M Ago | 0 | 3 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $52.39, a high estimate of $63.00, and a low estimate of $45.00. A 9.67% drop is evident in the current average compared to the previous average price target of $58.00.
Understanding Analyst Ratings: A Comprehensive Breakdown
The standing of Devon Energy among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Biju Perincheril | Susquehanna | Lowers | Positive | $62.00 | $63.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $56.00 | $57.00 |
| Paul Cheng | Scotiabank | Lowers | Sector Outperform | $48.00 | $60.00 |
| Nitin Kumar | Mizuho | Lowers | Outperform | $51.00 | $53.00 |
| Phillip Jungwirth | BMO Capital | Lowers | Outperform | $48.00 | $52.00 |
| Betty Jiang | Barclays | Lowers | Equal-Weight | $46.00 | $55.00 |
| Anthony Linton | Jefferies | Announces | Hold | $45.00 | - |
| Roger Read | Wells Fargo | Lowers | Overweight | $50.00 | $55.00 |
| Stephen Richardson | Evercore ISI Group | Lowers | In-Line | $50.00 | $55.00 |
| Neal Dingmann | Truist Securities | Lowers | Buy | $49.00 | $60.00 |
| Josh Silverstein | UBS | Lowers | Neutral | $47.00 | $53.00 |
| Devin McDermott | Morgan Stanley | Lowers | Overweight | $51.00 | $55.00 |
| Arun Jayaram | JP Morgan | Lowers | Overweight | $51.00 | $64.00 |
| Biju Perincheril | Susquehanna | Lowers | Positive | $63.00 | $65.00 |
| Scott Hanold | RBC Capital | Maintains | Sector Perform | $57.00 | $57.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $57.00 | $65.00 |
| Roger Read | Wells Fargo | Lowers | Overweight | $55.00 | $57.00 |
| Roger Read | Wells Fargo | Lowers | Overweight | $57.00 | $60.00 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Devon Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: 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.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Devon Energy's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Devon Energy analyst ratings.
Delving into Devon Energy's Background
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Breaking Down Devon Energy's Financial Performance
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining Devon Energy's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 13.4% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Devon Energy's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 21.55% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Devon Energy's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.83% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Devon Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.37% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.51, Devon Energy adopts a prudent financial strategy, indicating a balanced approach to debt management.
Understanding the Relevance of Analyst Ratings
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
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.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.