2 Wall Street Analysts Thinks Devon Energy Stock Is Going to $60. Is It a Buy Around $52? [Yahoo! Finance]
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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investors.devonenergy.com/investors/events-presentations/default.aspx
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Source: Yahoo! Finance
The $60 target implies a 14% upside to the stock price over the next 12 months or so. Dividends, buybacks, and improving productivity Devon Energy investors are looking forward to substantive dividends and buybacks from the company this year, in addition to the potential for share price appreciation. As such, it's not hard to pencil in the potential for a 20% total return from the stock, provided you believe in the $60 price target. To do so requires confidence that the current price of oil is sustainable at around $83 a barrel. While it's tough to predict energy prices, investors in oil stocks take heart from the relatively high prices so far in 2024 (during a weak period of global economic growth). Investors are also keeping an eye on coordinated production cuts by OPEC and OPEC+ countries, and the need to replenish the U.S. strategic petroleum reserves following a significant drawdown by the current administration. Moreover, Devon Energy's upside potential doesn't just rely
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News
- Is Devon Energy Stock Going to $57? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]Yahoo! Finance
- Devon Energy's Decision to De-Emphasize the Dividend Could Pay Off [Yahoo! Finance]Yahoo! Finance
- Devon Energy Co. (NYSE: DVN) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Devon Energy Corporation (NYSE:DVN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Devon Energy Co. (NYSE: DVN) had its price target lowered by analysts at Truist Financial Co. from $69.00 to $67.00. They now have a "buy" rating on the stock.MarketBeat
DVN
Earnings
- 5/1/24 - Beat
DVN
Sec Filings
- 5/3/24 - Form PX14A6G
- 5/2/24 - Form 10-Q
- 5/1/24 - Form 8-K
- DVN's page on the SEC website