Fintel reports that on October 2, 2023, Morgan Stanley maintained coverage of Devon Energy (NYSE:DVN) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 34.44% Upside
As of August 31, 2023, the average one-year price target for Devon Energy is 61.37. The forecasts range from a low of 50.50 to a high of $82.95. The average price target represents an increase of 34.44% from its latest reported closing price of 45.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Devon Energy is 20,416MM, an increase of 27.42%. The projected annual non-GAAP EPS is 9.19.
What is the Fund Sentiment?
There are 2067 funds or institutions reporting positions in Devon Energy. This is a decrease of 92 owner(s) or 4.26% in the last quarter. Average portfolio weight of all funds dedicated to DVN is 0.30%, a decrease of 4.97%. Total shares owned by institutions decreased in the last three months by 6.32% to 503,309K shares. 
The put/call ratio of DVN is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,020K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 20,235K shares, representing a decrease of 1.07%. The firm decreased its portfolio allocation in DVN by 12.81% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 16,940K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 18,787K shares, representing a decrease of 10.90%. The firm decreased its portfolio allocation in DVN by 2.28% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 15,279K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 15,253K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in DVN by 13.34% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 14,874K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 15,275K shares, representing a decrease of 2.70%. The firm decreased its portfolio allocation in DVN by 10.72% over the last quarter.
Geode Capital Management holds 14,230K shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 14,145K shares, representing an increase of 0.60%. The firm decreased its portfolio allocation in DVN by 13.10% 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.
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