DVN Stock Recent News

Hedge energy inflation by investing in oil/gas producing assets away from the Middle East military conflict, such as Devon Energy in Texas. Devon has a strong track record of free cash flow generation, manageable debts, and the return of shareholder capital through dividends and share buybacks. This investment is solidly positioned to take advantage of any rise in energy prices, with the potential for significant gains in the event of a global supply shock.

Devon Energy's strong production in key basins and strategic acquisitions drive its growth, positioning it as a major player in the U.S. oil industry. The company's focus on shareholder returns, through dividends and buybacks, is supported by its low breakeven prices and healthy balance sheet. Despite recent underperformance, Devon's attractive valuation and potential for substantial gains make it a compelling buy for those who can handle volatility.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Fossil fuels might seem anachronistic given the push for clean and renewable energy. However, the harsh reality is that the world continues to run on hydrocarbons.

Devon Energy's cash flow grew by 9% in the second quarter, fueled by record oil production. The company returned cash to investors via its base dividend, variable dividend, and share repurchases.

Devon Energy's (DVN) second-quarter earnings are better than estimates and the company has raised 2024 guidance to accommodate the strong performance in the first half.

Devon Energy (DVN) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.29 per share. This compares to earnings of $1.18 per share a year ago.

OKLAHOMA CITY, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the second-quarter 2024. The company also declared its quarterly dividend and provided an updated 2024 outlook. Devon's earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon's website, www.devonenergy.com.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

With favorable oil prices, energy companies' upstream business scenario is likely to have benefited. Let's see how Devon (DVN), Marathon (MPC) and W&T Offshore (WTI) are placed ahead of Q2 earnings.