Devon Energy Corporation [DVN] gain 67.13% so far this year. What now?

Devon Energy Corporation [NYSE: DVN] gained 3.76% on the last trading session, reaching $26.22 price per share at the time. The company report on May 7, 2021 that Devon Energy Announces Virtual-Only Format for 2021 Annual Meeting of Stockholders.

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Devon Energy Corp. (NYSE: DVN) announced a change in the location of its 2021 Annual Meeting of Stockholders. In light of continued concerns regarding the COVID-19 pandemic, the Annual Meeting will be held solely by remote communication, in a “virtual-only” format. The previously announced date and time of the meeting (June 9, 2021, at 8:00 a.m. Central Time) have not changed. The Devon Energy Center, including the Devon Energy Center Auditorium where the meeting was to occur, will remain closed to the public through the time of the Annual Meeting.

The meeting will be webcast and can be accessed by stockholders at using the control number on their proxy card, voting instruction form or Notice of Internet Availability of Proxy Materials. Devon has designed the format of the Annual Meeting to ensure that stockholders are afforded the same rights and opportunities to participate as they would at an in-person meeting, using online tools to ensure stockholder access and participation.

Devon Energy Corporation represents 676.88 million in outstanding shares, while the company has a total market value of $18.27 billion with the latest information. DVN stock price has been found in the range of $24.7098 to $26.58.

If compared to the average trading volume of 11.93M shares, DVN reached a trading volume of 13213522 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $30.77 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.

Evercore ISI have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 28, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on March 23, 2021, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $37, while Johnson Rice analysts kept a Buy rating on DVN stock.

The Average True Range (ATR) for Devon Energy Corporation is set at 1.10, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.78. The Price to Book ratio for the last quarter was 3.43, with the Price to Cash per share for the same quarter was set at 3.21. Price to Free Cash Flow for DVN in the course of the last twelve months was 16.78 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for DVN stock

Devon Energy Corporation [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.15. With this latest performance, DVN shares gained by 17.37% in over the last four-week period, additionally plugging by 169.36% over the last 6 months – not to mention a rise of 124.68% 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 71.23, with the RSI for the last a single of trading hit 78.15, and the three-weeks RSI is set at 66.57 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 22.91, while it was recorded at 24.76 for the last single week of trading, and 15.78 for the last 200 days.

Devon Energy Corporation [DVN]: A deeper dive into fundamental analysis

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.

Devon Energy Corporation [DVN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Devon Energy Corporation posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.80%. 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%.

An analysis of insider ownership at Devon Energy Corporation [DVN]

There are presently around $15,154 million, or 56.70% 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 $1.65 billion in DVN stocks shares; and BLACKROCK INC., currently with $1.16 billion in DVN stock with ownership of nearly 9.096% 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 May and at the time of the May reporting period, where 350 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 78,275,267 shares. Additionally, 311 investors decreased positions by around 65,912,992 shares, while 76 investors held positions by with 455,486,754 shares. The mentioned changes placed institutional holdings at 599,675,013 shares, according to the latest SEC report filing. DVN stock had 135 new institutional investments in for a total of 17,975,600 shares, while 60 institutional investors sold positions of 10,118,197 shares during the same period.

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