For its third fiscal quarter (ending September 30), Devon Energy Corp (NYSE: DVN) has reported a -51% decline in E.P.S. from $2.89 a year ago to $1.43 in the current quarter. This result fell short of the consensus estimate of $1.55 by $-0.12. For the latest four quarters through September 30, E.P.S. were $5.87 versus $9.55 for the same period a year ago — a decline of -39%.
Recent Price Action
On 11/7/23, Devon Energy Corp (NYSE: DVN) stock suffered a large decline of -3.1%, closing at $45.29. The stock has performed in line with the market over the last nine months and has declined -1.9% during the last week.
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 B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Devon Energy has a neutral Power Rating of 58 but a good Appreciation Score of 78, leading to the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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