A Citi analyst recently upgraded his price target on high-yield energy stock Devon Energy (DVN -0.33%) from $52 to $55, signaling a potential 13.6% upside. Coupled with the current 5% dividend yield, this presents a promising opportunity for investors. Here's a look at what makes Devon Energy such an attractive stock for Wall Street and retail investors.Citi's upgradeThe upgrade is interesting because it highlights the improvements in Devon Energy's assets, notably its natural gas assets. This is often over ...

Energy companies have signed over $180 billion in merger agreements over the last six months. However, Devon Energy (DVN -0.17%) has gotten left out of the current merger wave washing over the oil patch. The oil producer has reportedly pursued several acquisition targets, only to lose to a competitor. Because of that, the company won't get the merger-fueled boost its rivals expect to see in their deals. Here's a look at the deals Devon reportedly missed and potential targets the oil stock could pursue next. ...

Devon Energy Corp. (DVN) has been reaping the benefits of strong production volumes from its multi- basin assets spread in the United States. Devon is managing its debt efficiently and using every opportunity to lower its debt burden, which is boosting the company’s margins.Devon currently has a Zacks Rank #4 (Sell). Volatile commodity prices, still-high interest rates and highly competitive oil and gas industry can have an adverse impact on its operations.TailwindsDVN has a diverse commodity mix, with a ba ...

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 ...

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