Devon Energy Corporation [DVN] gain 82.52% so far this year. What now?

Devon Energy Corporation [NYSE: DVN] traded at a low on 06/28/21, posting a -4.54 loss after which it closed the day’ session at $28.41. The company report on June 24, 2021 that Devon Energy Schedules Second-Quarter 2021 Earnings Release and Conference Call.

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Devon Energy Corp. (NYSE: DVN) announced it will report second-quarter 2021 results on Tuesday, Aug. 3, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2021 results will be available on the company’s website at www.devonenergy.com.

On Wednesday, Aug. 4, 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.

The results of the trading session contributed to over 12227047 shares changing hands. Over the past one week, the price volatility of Devon Energy Corporation stands at 3.76% while the volatility over the past one month is 4.09%.

The market cap for DVN stock reached $19.22 billion, with 649.00 million shares outstanding and 630.60 million shares in the current float. Compared to the average trading volume of 10.89M shares, DVN reached a trading volume of 12227047 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 $35.33 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 1.70. 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.

Bernstein have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 21, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $28 to $32. The new note on the price target was released on June 18, 2021, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise from $34 to $40, while Raymond James kept a Strong 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 4.27. The Price to Book ratio for the last quarter was 2.21, 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 31.05 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 -0.66. With this latest performance, DVN shares gained by 7.44% in over the last four-week period, additionally plugging by 88.24% over the last 6 months – not to mention a rise of 169.37% 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 51.25, with the RSI for the last a single of trading hit 46.81, and the three-weeks RSI is set at 53.31 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 26.51, while it was recorded at 29.11 for the last single week of trading, and 18.75 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 $16,073 million, or 85.10% 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 $1.31 billion in DVN stocks shares; and STATE STREET CORP, currently with $1.13 billion in DVN stock with ownership of nearly 27.578% 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 366 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 111,327,613 shares. Additionally, 362 investors decreased positions by around 146,432,852 shares, while 70 investors held positions by with 307,986,972 shares. The mentioned changes placed institutional holdings at 565,747,437 shares, according to the latest SEC report filing. DVN stock had 143 new institutional investments in for a total of 23,737,487 shares, while 122 institutional investors sold positions of 25,545,293 shares during the same period.

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