Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Devon Energy Corp (NYSE: DVN) weakened during the last several trading days. DVN’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
On 3/1/24, Devon Energy Corp (NYSE: DVN) stock rose modestly by 0.7%, closing at $44.39. Moreover, this advance was accompanied by above average trading volume at 145% of normal. Relative to the market the stock has been weak over the last nine months but has risen 1.0% 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 D (Negative). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Devon Energy has a neutral Appreciation Score of 46 but a poor Power Rating of 22, producing the Negative Value Trend Rating.
Be the first to comment