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Devon Energy (DVN) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Devon Energy (DVN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Devon Energy is rated a BUY with a $40/share target, driven by potential upside in natural gas prices and undervaluation due to recent selling pressure. Domestic natural gas demand is expected to rise as data centers increasingly rely on gas power, potentially boosting Devon's revenue. Internationally, the EU's need to refill gas reserves amid reduced Russian imports may drive higher LNG prices, benefiting Devon's gas assets.
Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.
Devon Energy (DVN -11.67%) got off to a great start in 2025. The oil company's stock price surged 14.3% in the first quarter, according to data from S&P Global Market Intelligence.
Shares of U.S.-based oil and gas fracking companies such as Devon Energy (DVN -11.76%), APA Corporation (APA -15.07%), and Diamondback Energy (FANG -11.38%) plunged on Thursday, falling 11.2%, 14.4%, and 11%, respectively, as of 12:32 p.m. ET.
The energy sector has climbed year to date, in contrast to the broader market's decline, driven by leaders like ExxonMobil, Chevron and Devon Energy.
Devon Energy Corporation offers a compelling value opportunity with a forward PE of 7.6x, a 3.6% dividend yield, and 9% dividend growth. DVN's robust production growth, efficient capital deployment, and strong reserve replacement ratio highlight its operational excellence and future growth potential. Its strong financial position, including investment-grade credit ratings and substantial liquidity, supports its shareholder-friendly capital return strategy.
Companies like EOG, FANG and DVN displayed solid operational and financial performances, supported by record production levels, cost management and shareholder returns.
Devon Energy (DVN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.