Alert: Rating Downgrade (12/22/23)-Devon Energy Corp (NYSE: DVN).


Stock Rating Downgrade

The Value Trend Rating for Devon Energy Corp (NYSE: DVN) weakened in recent days from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.


Recent Price Action

Devon Energy Corp (NYSE: DVN) stock closed at $45.81 on 12/22/23 after a slight decline of -0.09%. However, below average trading volume at 71% of normal accompanied the decline. The stock has risen 1.8% during the last week and has performed in line with the market over the last nine months.

Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, DVN is expected to continue to be a major Value Builder.

Devon Energy has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Devon Energy has a good Appreciation Score of 78 but a neutral Power Rating of 44, resulting in the High Neutral Value Trend Rating.

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