Alert: Negative Investment/Fundamental Signals (12/26/23)-Devon Energy Corp (NYSE: DVN)


Recent notable negative changes in fundamentals have impacted Devon Energy Corp (NYSE: DVN): the stock’s power rating fell below 50, significant quarterly sales deceleration occurred, and the consensus estimate for December, 2024 decreased significantly.

Devon Energy Corp (NYSE: DVN) suffers from notable negative changes in investment behavior: its shorter term price trend turned down.

In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.


Current PriceTarget Research Rating

With future capital returns forecasted to be above 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Devon Energy has a good Appreciation Score of 78 but a neutral Power Rating of 44, triggering the High Neutral Value Trend Rating.

Recent Price Action

Devon Energy Corp (NYSE: DVN) stock closed at $46.66 on 12/26/23 after an increase of 1.9%. This advance was accompanied by normal trading volume. The stock has risen 4.0% during the last week and has performed in line with the market over the last nine months.

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