Devon Energy Corporation [NYSE: DVN] stock went on a downward path that fall over -0.87% on Tuesday, amounting to a one-week price decrease of less than -4.78%. The company report on March 30, 2021 that Devon Energy Schedules First-Quarter 2021 Earnings Release and Conference Call.
Devon Energy Corp. (NYSE: DVN) announced it will report first-quarter 2021 results on Tuesday, May 4, after the close of U.S. financial markets. The earnings release and presentation for the first-quarter 2021 results will be available on the company’s website at www.devonenergy.com.
On Wednesday, May 5, the company will hold a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time), which will consist primarily of answers to questions from analysts and investors. A webcast link to the conference call will be provided on Devon’s website at www.devonenergy.com. A replay will be available on the website following the call.
Over the last 12 months, DVN stock rose by 129.89%. The one-year Devon Energy Corporation stock forecast points to a potential upside of 27.53. The average equity rating for DVN stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $14.80 billion, with 673.10 million shares outstanding and 624.71 million shares in the current float. Compared to the average trading volume of 12.61M shares, DVN stock reached a trading volume of 7339341 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $29.93 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 1.80. 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.
Goldman have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 23, 2021. The new note on the price target was released on March 09, 2021, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $22, while JP Morgan analysts kept a Overweight rating on DVN stock.
The Average True Range (ATR) for Devon Energy Corporation is set at 1.03, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.07. The Price to Book ratio for the last quarter was 2.84, with the Price to Cash per share for the same quarter was set at 3.28. Price to Free Cash Flow for DVN in the course of the last twelve months was 13.59 with Quick ratio for the last quarter at 2.30.
DVN Stock Performance Analysis:
Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.78. With this latest performance, DVN shares dropped by -10.56% in over the last four-week period, additionally plugging by 117.07% over the last 6 months – not to mention a rise of 129.89% 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 45.64, with the RSI for the last a single of trading hit 40.58, and the three-weeks RSI is set at 48.91 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 21.76, while it was recorded at 22.09 for the last single week of trading, and 14.67 for the last 200 days.
Insight into Devon Energy Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Devon Energy Corporation [DVN] shares currently have an operating margin of -5.74 and a Gross Margin at +1.50. Devon Energy Corporation’s Net Margin is presently recorded at -54.50.
Return on Total Capital for DVN is now -2.97, given the latest momentum, and Return on Invested Capital for the company is -28.67. Return on Equity for this stock declined to -58.64, with Return on Assets sitting at -21.56. When it comes to the capital structure of this company, Devon Energy Corporation [DVN] has a Total Debt to Total Equity ratio set at 157.82. Additionally, DVN Total Debt to Total Capital is recorded at 61.21, with Total Debt to Total Assets ending up at 45.93. Long-Term Debt to Equity for the company is recorded at 157.50, with the Long-Term Debt to Total Capital now at 61.09.
Reflecting on the efficiency of the workforce at the company, Devon Energy Corporation [DVN] managed to generate an average of -$1,819,286 per employee. Receivables Turnover for the company is 5.82 with a Total Asset Turnover recorded at a value of 0.40.Devon Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.
DVN Stock EPS
With the latest financial reports released by the company, Devon Energy Corporation posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 159.10%. 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 25.00%.
Devon Energy Corporation [DVN] Insider Position Details
There are presently around $12,986 million, or 49.50% 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 $1.43 billion in DVN stocks shares; and BLACKROCK INC., currently with $922.4 million in DVN stock with ownership of nearly -2.318% of the company’s market capitalization.
Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 323 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 71,033,277 shares. Additionally, 310 investors decreased positions by around 64,949,489 shares, while 89 investors held positions by with 457,506,497 shares. The mentioned changes placed institutional holdings at 593,489,263 shares, according to the latest SEC report filing. DVN stock had 123 new institutional investments in for a total of 17,921,467 shares, while 62 institutional investors sold positions of 7,753,106 shares during the same period.