1 Wall Street Analyst Thinks Devon Energy Stock Is Going to $57. Is It a Buy? [Yahoo! Finance]
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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US:NYSE Investor Relations:
investors.devonenergy.com/investors/events-presentations/default.aspx
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Source: Yahoo! Finance
My take on a "sector perform" rating is that it is a de facto sell rating, because investors might as well hold the sector through an ETF and eliminate the stock-specific risk inherent in holding one stock. That said, the $57 price target still represents a nearly 12% upside from the current price, and what the RBC Capital analyst said is also very interesting. Improving operations and productivity The company's recent first-quarter earnings report showed that it delivered on its promise to improve well productivity by investing in its core assets in the Delaware Basin. Delivered volumes were 4% above plan to 664,000 barrels of oil equivalent (Boe/d), or 664 MBoe/d in short, for the quarter. Moreover, management raised its full-year production forecast by 2%, to a range between 655 MBoe/d to 675 MBoe/d, from a previous estimate of 650 MBoe/d. According to thefly.com, Wall Street was aware of the improvement. RBC Capital noted well productivity improvements, better cycle times
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News
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- These 3 High-Yield Dividend Stocks Are Gushing Cash [Yahoo! Finance]Yahoo! Finance
- Devon Energy: Discipline Paying Off [Seeking Alpha]Seeking Alpha
- Is Devon Energy Stock a Buy? [Yahoo! Finance]Yahoo! Finance
- Devon Energy: Healthy Production Trends And Shareholder-Friendly Moves [Seeking Alpha]Seeking Alpha
DVN
Earnings
- 5/1/24 - Beat
DVN
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 144
- 5/3/24 - Form PX14A6G
- DVN's page on the SEC website