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?Let's take a look at what these Wall Street heavyweights have to say about Devon Energy (DVN) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Devon Energy currently has an ...

OPEC's latest Oil Market Report sheds light on the shifting dynamics of the global energy sector. The closely watched report not only provides an updated forecast on demand growth but also dives into the complexities of supply constraints, geopolitical risks, and the ongoing transition toward cleaner energy. Despite a cautious tone, there are key opportunities in oil-focused investments, particularly as demand-supply imbalances create room for strategic gains. Investors interested in the sector could benefi ...

Devon Energy Corporation's (DVN) shares have gained 8.1% in a month, outperforming the S&P 500 index's return of 4% and the broader Zacks Oil and Energy sector's decline of 5.1%. While the one-month performance paints a positive picture for investors, looking at the last one-year performance is crucial for a fuller understanding. DVN's stock has declined 9.2% in the past year, suggesting it is on a gradual path to recovery. Another stock from the same industry, EQT Corporation (EQT) , registered a 14.4% dec ...

In its last weekly release, Baker Hughes Company (BKR) stated that the U.S. rig count was higher than the prior week's figure. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications. Baker Hughes' data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company's ...

In the latest trading session, Devon Energy (DVN) closed at $42.42, marking a +1.51% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.9%. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%. Heading into today, shares of the oil and gas exploration company had lost 0.69% over the past month, lagging the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% in that time. Investors will be eagerly watching for ...

It's time to hedge geopolitical risk by getting exposure to oil stocks. Devon Energy (DVN 1.34%) stock has moved in line with oil prices this year. So it's no surprise that a decline in the latter has led to a sell-off in recent months. And that in turn has led to downbeat views from several Wall Street analysts. Devon Energy's price targets Analysts have been lowering price targets on Devon Energy in recent weeks, as oil prices have declined from the mid-$80s in the summer to $72. Most recently, Truist fol ...

Lower oil prices overshadowed a positive development. Shares of Devon Energy (DVN 3.19%) fell 12.6% in September, according to data provided by S&P Global Market Intelligence. The culprit was lower oil prices. That offset the positive effect of closing a needle-moving acquisition. Down despite a big deal Oil prices were under pressure again last month. WTI, the main U.S. oil price benchmark, fell another 7.3% in September, closing the month at around $68 per barrel. It has now declined by 16.4% over the pas ...

OKLAHOMA CITY, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced that it has completed its previously announced acquisition of Grayson Mill Energy, for a transaction valued at $5 billion before giving effect to purchase price adjustments. The acquisition adds a high-margin production mix that enhances Devon's position as one of the largest producers in the U.S. The transaction transforms the company's Williston Basin business, with the addition of 307,000 net acres, 500 undri ...

Devon Energy Corporation (DVN) is currently trading at a discount compared with its industry on a trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) basis. Devon is currently trading at 4.01X, lower than its industry's average of 7.17X. Devon is trading 12.4% below its five-year median of 4.58X. DVN currently has a Value Score of A. Devon is attractively valued compared with other companies like Chesapeake Energy Corporation (CHK) and EQT Corporatio ...

Devon Energy (DVN) closed the most recent trading day at $41.01, moving -0.27% from the previous trading session. This change lagged the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.56%. Shares of the oil and gas exploration company have depreciated by 8.91% over the course of the past month, underperforming the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65%. Market participants will be closely follo ...