2 Wall Street Analysts Thinks Devon Energy Stock Is Going to $60. Is It a Buy Around $52?

Motley Fool04-24

Management is investing in its core assets with the expectation of improving its well productivity. Devon Energy continues to be an excellent investing option for income-seeking investors. ...

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Is It a Buy Around $52?","media":"Motley Fool","content":"<div>\n<p>Management is investing in its core assets with the expectation of improving its well productivity. \n\n\n\n\n\n\n\nDevon Energy continues to be an excellent investing option for income-seeking investors. \n\n...</p>\n\n<a href=\"https://www.fool.com/investing/2024/04/24/wall-street-analyst-devon-energy-stock-buy/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Wall Street Analysts Thinks Devon Energy Stock Is Going to $60. 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Is It a Buy Around $52?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-24 19:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/04/24/wall-street-analyst-devon-energy-stock-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Management is investing in its core assets with the expectation of improving its well productivity. \n\n\n\n\n\n\n\nDevon Energy continues to be an excellent investing option for income-seeking investors. \n\n...</p>\n\n<a href=\"https://www.fool.com/investing/2024/04/24/wall-street-analyst-devon-energy-stock-buy/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2125154778.USD","symbol_name":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","start_time":0,"source_url":"https://www.fool.com/investing/2024/04/24/wall-street-analyst-devon-energy-stock-buy/","article_id":"2429437843","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F773818%2Foil-barrels.jpg&op=resize&w=165&h=104"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429437843","pubTimestamp":1713959760,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Wall Street continues to warm to the stock as the price of oil stays above $80 a barrel.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0256331488.USD":"SCHRODER ISF GLOBAL ENERGY \"A\" ACC","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4213":"石油与天然气的勘探与生产","DVN":"德文能源","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC"},"translate_title":"华尔街分析师认为德文能源公司的股票将涨到60美元。这是52美元左右的买入吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DVN":1},"content_text":"Management is investing in its core assets with the expectation of improving its well productivity. \n\n\n\n\n\n\n\nDevon Energy continues to be an excellent investing option for income-seeking investors. \n\nPiper Sandler followed Wells Fargo's lead recently by raising its price target on Devon Energy (DVN 0.84%) from $59 to $60 and maintaining an overweight rating on the stock. The $60 target implies a 14% upside to the stock price over the next 12 months or so.Dividends, buybacks, and improving productivityDevon Energy investors are looking forward to substantive dividends and buybacks from the company this year, in addition to the potential for share price appreciation. As such, it's not hard to pencil in the potential for a 20% total return from the stock, provided you believe in the $60 price target.To do so requires confidence that the current price of oil is sustainable at around $83 a barrel. While it's tough to predict energy prices, investors in oil stocks take heart from the relatively high prices so far in 2024 (during a weak period of global economic growth). Investors are also keeping an eye on coordinated production cuts by OPEC and OPEC+ countries, and the need to replenish the U.S. strategic petroleum reserves following a significant drawdown by the current administration.Moreover, Devon Energy's upside potential doesn't just rely on higher energy prices. The company is also aiming to improve its well productivity this year by drilling in its higher-quality core assets in the Delaware Basin. Management is allocating 60% of its capital spending this year to the Delaware Basin with the expectation that it will result in a 10% improvement in well productivity compared to 2023.Devon Energy's upcoming earningsThe company will release earnings on May 1 and investors are looking for an update on its drilling operations and its cash return strategy, which includes share buybacks (made a priority in the first quarter) and fixed and variable dividend payouts.With the current price of oil, it's likely to be a positive update. As such, I think it's a highly attractive stock for oil bulls and income-seeking investors alike.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429437843"}