Barclays analyst Betty Jiang has revised the price target for Devon Energy (DVN, Financial), bringing it down to $38 from the previous $44. This adjustment comes as part of a quarterly preview focusing on the integrated oil, exploration, and production sector. The current macroeconomic conditions are under scrutiny, especially as companies with lower break-even costs and robust balance sheets are expected to fare better amid declining oil prices.
The analyst highlights that uncertainties continue to affect the market, leading Barclays to lower its oil price forecasts for the coming years. The new projections set oil prices at $60 for 2025 and $65 for 2026, reflecting a cautious outlook on the sector's future. Despite these challenges, Devon Energy retains an Equal Weight rating, indicating a balanced risk-reward profile under the current economic landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 29 analysts, the average target price for Devon Energy Corp (DVN, Financial) is $45.16 with a high estimate of $66.00 and a low estimate of $32.00. The average target implies an upside of 44.73% from the current price of $31.20. More detailed estimate data can be found on the Devon Energy Corp (DVN) Forecast page.
Based on the consensus recommendation from 31 brokerage firms, Devon Energy Corp's (DVN, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Devon Energy Corp (DVN, Financial) in one year is $49.59, suggesting a upside of 58.94% from the current price of $31.2. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Devon Energy Corp (DVN) Summary page.
