Monday, March 1, 2021

Market Analysts see Devon Energy Corporation [DVN] gaining to $22. Time to buy?

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Devon Energy Corporation [NYSE: DVN] traded at a high on 02/16/21, posting a 4.45 gain after which it closed the day’ session at $20.87. The company report on February 17, 2021 that Devon Energy Reports Fourth-Quarter and Full-Year 2020 Financial and Operational Results.

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Devon Energy Corp. (NYSE: DVN) reported financial and operational results for the fourth quarter and full year of 2020. The company’s earnings release, supplemental financial tables, updated guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com. These materials will also be available on the Securities and Exchange Commission’s website.


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The company’s fourth-quarter conference call will be held at 9:00 a.m. Central (10:00 a.m. Eastern) on Wednesday, February 17, 2021, and will serve primarily as a forum for analyst and investor questions and answers.

The results of the trading session contributed to over 14347286 shares changing hands. Over the past one week, the price volatility of Devon Energy Corporation stands at 4.59% while the volatility over the past one month is 5.63%.

The market cap for DVN stock reached $13.57 billion, with 377.00 million shares outstanding and 329.26 million shares in the current float. Compared to the average trading volume of 12.09M shares, DVN reached a trading volume of 14347286 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Devon Energy Corporation [DVN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DVN shares is $23.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DVN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 09, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on February 09, 2021, representing the official price target for Devon Energy Corporation stock.

The Average True Range (ATR) for Devon Energy Corporation is set at 1.07, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.84. The Price to Book ratio for the last quarter was 2.60, with the Price to Cash per share for the same quarter was set at 2.63. Price to Free Cash Flow for DVN in the course of the last twelve months was 9.06 with Quick ratio for the last quarter at 2.00.

How has DVN stock performed recently?

Devon Energy Corporation [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.31. With this latest performance, DVN shares gained by 2.91% in over the last four-week period, additionally plugging by 72.19% over the last 6 months – not to mention a drop of -6.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DVN stock in for the last two-week period is set at 68.19, with the RSI for the last a single of trading hit 73.64, and the three-weeks RSI is set at 65.49 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 17.34, while it was recorded at 19.75 for the last single week of trading, and 12.69 for the last 200 days.

Devon Energy Corporation [DVN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Devon Energy Corporation [DVN] shares currently have an operating margin of +4.67 and a Gross Margin at +12.17. Devon Energy Corporation’s Net Margin is presently recorded at -1.28.

Return on Total Capital for DVN is now 2.31, given the latest momentum, and Return on Invested Capital for the company is -0.64. Return on Equity for this stock declined to -1.08, with Return on Assets sitting at -0.49. When it comes to the capital structure of this company, Devon Energy Corporation [DVN] has a Total Debt to Total Equity ratio set at 78.51. Additionally, DVN Total Debt to Total Capital is recorded at 43.98, with Total Debt to Total Assets ending up at 33.21. Long-Term Debt to Equity for the company is recorded at 78.21, with the Long-Term Debt to Total Capital now at 43.82.

Reflecting on the efficiency of the workforce at the company, Devon Energy Corporation [DVN] managed to generate an average of -$45,000 per employee. Receivables Turnover for the company is 7.38 with a Total Asset Turnover recorded at a value of 0.38.Devon Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Earnings analysis for Devon Energy Corporation [DVN]

With the latest financial reports released by the company, Devon Energy Corporation posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DVN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Devon Energy Corporation go to 4.50%.

Insider trade positions for Devon Energy Corporation [DVN]

There are presently around $12,355 million, or 47.30% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: ENCAP ENERGY CAPITAL FUND X, L.P. with ownership of 78,978,290, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 65,437,017 shares of the stock with an approximate value of $1.37 billion in DVN stocks shares; and BLACKROCK INC., currently with $879.82 million in DVN stock with ownership of nearly -2.318% of the company’s market capitalization.

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Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 305 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 68,878,090 shares. Additionally, 321 investors decreased positions by around 66,738,492 shares, while 95 investors held positions by with 456,361,337 shares. The mentioned changes placed institutional holdings at 591,977,919 shares, according to the latest SEC report filing. DVN stock had 108 new institutional investments in for a total of 16,946,270 shares, while 72 institutional investors sold positions of 8,828,382 shares during the same period.

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