Devon Energy Corp (NYSE: DVN) has reported earnings for its first fiscal quarter (ending March 31) of $0.95 versus $1.53 for the same period a year ago — a decline of -38%. Relative to the consensus estimate of $1.39, this was a shortfall of $-0.44. For the latest four quarters through March 31, E.P.S. were $5.27 compared to $9.20 a year ago — a decline of -43%.
Recent Price Action
Devon Energy Corp (NYSE: DVN) stock closed at $50.40 on 5/1/24 after a modest decline of -1.5%. Trading volume in this decline was normal. The stock has declined -4.1% during the last week and has been weak relative to 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 D (Negative). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Devon Energy has a slightly positive Appreciation Score of 62 but a poor Power Rating of 20, with the Negative Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
Be the first to comment