For its fourth fiscal quarter (ending December 31), Devon Energy Corp (NYSE: DVN) has reported a -2% decline in E.P.S. from $1.84 a year ago to $1.81 in the current quarter. However, this result exceeded the consensus estimate of $1.40 by $0.41. For the latest four quarters through December 31, E.P.S. were $5.86 versus $9.15 for the same period a year ago — a decline of -36%.
Recent Price Action
On 2/27/24, Devon Energy Corp (NYSE: DVN) stock increased 1.1%, closing at $44.32. NORMAL trading volume accompanied the advance. Relative to the market the stock has been weak over the last nine months but has risen 2.0% 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 C (Low Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Devon Energy has a slightly positive Appreciation Score of 70 but a poor Power Rating of 25, resulting in the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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