Devon Energy remains inherently discounted compared to its peers despite the recent bounce, thanks to its growing production capacity and richer profit margins. Thanks to the still healthy balance sheet and rich cash flow generations, we believe that the oil/gas company remains well positioned to continue deleveraging while paying out dividends. On the other hand, readers must note that the oil/ gas sector is an inherently volatile sector, worsened by the ongoing OPEC+ output relaxation and non-OPEC+ increases.
In the most recent trading session, Devon Energy (DVN) closed at $37.47, indicating a +1.35% shift from the previous trading day.
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Devon Energy (DVN) reachead $36.97 at the closing of the latest trading day, reflecting a +0.03% change compared to its last close.
In the closing of the recent trading day, Devon Energy (DVN) stood at $35.37, denoting a +0.74% change from the preceding trading day.
The consensus price target hints at a 39% upside potential for Devon Energy (DVN). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Devon Energy (DVN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
This is one of those unusual situations whereby a Wall Street firm lowers its price target on the stock, but even the lowered price target still implies a 42% upside for the stock. That happened recently when Siebert Williams Shank lowered its price target on Devon Energy (DVN 1.99%) from $58 to $50 while maintaining a buy rating on the stock.
Devon Energy (DVN) closed the most recent trading day at $35.11, moving +1.62% from the previous trading session.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
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DVN's multi-basin assets and rising earnings estimates make it attractive. Investors can add the stock to their portfolio as it is a consistent performer and trading at a discount.