Fintel reports that on April 10, 2024, Barclays initiated coverage of Devon Energy (NYSE:DVN) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 1.19% Upside

As of March 31, 2024, the average one-year price target for Devon Energy is 54.78. The forecasts range from a low of 46.46 to a high of $72.45. The average price target represents an increase of 1.19% from its latest reported closing price of 54.14.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Devon Energy is 20,218MM, an increase of 40.14%. The projected annual non-GAAP EPS is 8.05.

• For more in-depth coverage of Devon Energy, view the free, crowd-sourced company research report on Finpedia.

What is the Fund Sentiment?

There are 2038 funds or institutions reporting positions in Devon Energy. This is a decrease of 52 owner(s) or 2.49% in the last quarter. Average portfolio weight of all funds dedicated to DVN is 0.28%, a decrease of 12.01%. Total shares owned by institutions increased in the last three months by 0.33% to 507,120K shares. The put/call ratio of DVN is 0.80, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,080K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 19,940K shares, representing an increase of 0.70%. The firm decreased its portfolio allocation in DVN by 14.54% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 15,649K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 15,396K shares, representing an increase of 1.62%. The firm decreased its portfolio allocation in DVN by 14.73% over the last quarter.

XLE - The Energy Select Sector SPDR Fund holds 15,611K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 17,789K shares, representing a decrease of 13.95%. The firm decreased its portfolio allocation in DVN by 9.68% over the last quarter.

Geode Capital Management holds 14,927K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 14,531K shares, representing an increase of 2.66%. The firm decreased its portfolio allocation in DVN by 14.37% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 14,359K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 14,509K shares, representing a decrease of 1.05%. The firm decreased its portfolio allocation in DVN by 16.00% over the last quarter.

Devon Energy Background Information
(This description is provided by the company.)

Devon Energy Corporation is an American energy company engaged in hydrocarbon exploration in the American market. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma.