For its second fiscal quarter (ending June 30), Devon Energy Corp (NYSE: DVN) has reported a 25% increase in E.P.S. from $1.08 a year ago to $1.35 in the current quarter. This performance was $0.08 better than the consensus estimate of $1.27. E.P.S. were $5.54 for the latest four quarters through June 30 versus $7.33 for the same period a year ago — a decline of -24%.
Recent Price Action
Devon Energy Corp (NYSE: DVN) stock closed at $41.98 on 8/6/24 after an increase of 1.2%. Moreover, above average trading volume at 121% of normal accompanied the advance. The stock has declined -8.1% during the last week and has performed in line with 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 B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Devon Energy has a neutral Power Rating of 60 but a good Appreciation Score of 81, 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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