Devon Energy Corporation [NYSE: DVN] jumped around 0.09 points on Friday, while shares priced at $25.35 at the close of the session, up 0.36%. The company report on May 18, 2021 that Devon Energy Celebrates 50 Years of Success.
Devon Energy Corp. (NYSE: DVN) is celebrating its ‘golden’ anniversary this month after 50 years of success in the oil and gas industry. Founded by John and Larry Nichols in 1971, the company started with no assets and five employees, but by 1988, was publicly traded and then listed on the New York Stock Exchange. Devon continued to grow organically and by acquisition over the years and stepped into its place on the S&P 500 in 2000. it is a leading producer of oil and gas in the U.S.
For half a century Devon has prospered and endured through volatile market cycles, delivering strong performance while adapting and continuing to innovate. Devon’s historic achievements and milestone events include being the first to successfully combine horizontal drilling with hydraulic fracturing in the Barnett Shale of North Texas, which launched the Shale Revolution that spread to oil and gas-producing regions across the U.S.
Devon Energy Corporation stock is now 61.59% up from its year-to-date (YTD) trading value. DVN Stock saw the intraday high of $25.99 and lowest of $25.32 per share. The company’s 52-week high price is 27.43, which means current price is +61.36% above from all time high which was touched on 05/18/21.
Compared to the average trading volume of 12.12M shares, DVN reached a trading volume of 8633313 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 $32.47 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 1.20, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.80. The Price to Book ratio for the last quarter was 1.97, with the Price to Cash per share for the same quarter was set at 2.78. Price to Free Cash Flow for DVN in the course of the last twelve months was 27.62 with Quick ratio for the last quarter at 1.20.
How has DVN stock performed recently?
Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.90. With this latest performance, DVN shares gained by 20.71% in over the last four-week period, additionally plugging by 100.21% over the last 6 months – not to mention a rise of 112.28% 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 55.71, with the RSI for the last a single of trading hit 53.07, and the three-weeks RSI is set at 56.50 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 23.36, while it was recorded at 25.86 for the last single week of trading, and 16.53 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 -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 1.20 and a Current Ratio set at 1.20.
Earnings analysis for Devon Energy Corporation [DVN]
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%.
Insider trade positions for Devon Energy Corporation [DVN]
There are presently around $14,541 million, or 84.80% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 76,608,225, which is approximately 17.072% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 45,991,981 shares of the stock with an approximate value of $1.17 billion in DVN stocks shares; and STATE STREET CORP, currently with $1.01 billion in DVN stock with ownership of nearly 27.578% 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 367 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 113,348,407 shares. Additionally, 360 investors decreased positions by around 139,533,766 shares, while 69 investors held positions by with 320,714,719 shares. The mentioned changes placed institutional holdings at 573,596,892 shares, according to the latest SEC report filing. DVN stock had 143 new institutional investments in for a total of 23,736,332 shares, while 120 institutional investors sold positions of 25,534,027 shares during the same period.