The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Devon Energy (DVN) .Devon Energy currently has an average brokera ...

grandriverI last covered Devon Energy (NYSE:DVN) on Seeking Alpha back on June 14, 2023, “Devon Energy: Limited Upside Near-Term,” rating the stock a “Hold.” In that piece, I used a discounted cash flow (DCF) model to derive a long-term value target of roughly $60 per share for DVN, a little over a 20% premium to the then-current price of the stock. However, given near-term risks and better opportunities in other exploration and production (E&P) stocks at the time, I felt that wasn’t an adequate margin ...

GlobalStock After a brutal start to the year, Devon Energy (NYSE:DVN) has finally bounced following solid earnings. The domestic energy company has become a cash flow machine returning lots of capital to shareholders, making the stock appealing to buy on weakness considering the volatile energy sector. My investment thesis is ultra Bullish on the energy company at this valuation. Source: Finviz Improved Efficiency While Devon Energy grew oil volumes 8% in 2023 to 317 m/bod, the company actually cut ca ...

DNY59 We previously covered Devon Energy (NYSE:DVN) in December 2023, discussing why its inherent undervaluation might be a gift for investors with a long-term investing trajectory, with the potential recovery in the macroeconomic outlook likely to trigger the eventual normalization in its stock valuations and prices. Most importantly, the management continued to execute brilliantly, further demonstrating why it did not deserve to be beaten down and unappreciated as it had thus far. In this article, we shal ...

To say that market optimism, global production disruptions, and geopolitical tensions are all to blame for the recent spike in oil prices is correct. The rally started because of the risks in the Middle East and Russia and the disruption in global production, but has spread as investors have grown more bullish on commodities, generally.Recent declines in oil prices appear to be due to technical factors. That said, in early 2024, supply disruptions and ongoing geopolitical threats might sustain oil prices. F ...

Devon Energy (DVN 0.75%) made a subtle change to its capital return strategy this year. The oil giant had paid out a gusher of dividends over the past couple of years by prioritizing paying variable dividends to return excess cash to shareholders. However, it plans to emphasize repurchasing its shares in 2024. Fueling the focus on share repurchases is Devon's deep-seated belief that the company's shares, and oil stocks in general, are dirt cheap these days. Here's a look at the factors driving that view.A b ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------------------------------------------------|----------------------------------------|-------| | | | | | | DYNAMIC MESSAGE SIGNS | | | | | | | | | | | | | | | | | | February 28, 2024 NASDAQ: DAKT CONTROL SYSTEMS | Fiscal Third Quarter 2024 Results Call | | | | | | | | | | | SAFE HARBOR STATEMENT In addition to statements of historical fact, this presentation contains forward-looking statements within the meaning ...

Devon Energy Corporation (NYSE:DVN) Q4 2023 Earnings Conference Call February 28, 2024 11:00 AM ET Company Participants Scott Coody - Vice President, Investor Relations Rick Muncrief - President and Chief Executive Officer Clay Gaspar - Chief Operating Officer Jeff Ritenour - Chief Financial Officer Conference Call Participants Neil Mehta - Goldman Sachs Arun Jayaram - JPMorgan Nitin Kumar - Mizuho Neal Dingmann - Truist Kevin MacCurdy - Pickering Energy Partners Scott Gruber - Citigroup Scott Hanold - RBC ...

Devon Energy Corp. (DVN) reported fourth-quarter 2023 earnings per share (EPS) of $1.41, outpacing the Zacks Consensus Estimate of $1.39 by 1.4%. The bottom line, however, declined 15.1% year over year.In 2023, EPS was $5.71, declining 31.3% from $8.31 in 2022.RevenuesTotal revenues for the quarter were $4.1 billion, which surpassed the Zacks Consensus Estimate of $3.87 billion by 5.9%.However, the top line decreased by 3.6% from the year-ago quarter’s figure. Despite year-over-year improvements in producti ...

For the quarter ended December 2023, Devon Energy (DVN) reported revenue of $4.15 billion, down 3.6% over the same period last year. EPS came in at $1.41, compared to $1.66 in the year-ago quarter.The reported revenue represents a surprise of +7.11% over the Zacks Consensus Estimate of $3.87 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +1.44%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...