Devon Energy Corporation [DVN] Stock trading around $25.62 per share: What’s Next?

Devon Energy Corporation [NYSE: DVN] loss -1.42% or -0.37 points to close at $25.62 with a heavy trading volume of 7961883 shares. The company report on June 24, 2021 that Devon Energy Schedules Second-Quarter 2021 Earnings Release and Conference Call.

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.

It opened the trading session at $26.05, the shares rose to $26.0745 and dropped to $25.18, the range by which the price of stock traded the whole day. The daily chart for DVN points out that the company has recorded 46.20% gains over the past six months. However, it is still -236.66% lower than its most recent low trading price.

If we look at the average trading volume of 11.55M shares, DVN reached to a volume of 7961883 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 $35.70 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 1.28, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.91. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 2.73. Price to Free Cash Flow for DVN in the course of the last twelve months was 28.42 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for DVN stock

Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.62. With this latest performance, DVN shares dropped by -11.96% in over the last four-week period, additionally plugging by 46.20% over the last 6 months – not to mention a rise of 144.26% 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 40.43, with the RSI for the last a single of trading hit 37.21, and the three-weeks RSI is set at 43.44 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 27.92, while it was recorded at 25.64 for the last single week of trading, and 20.37 for the last 200 days.

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

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.

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

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 $14,526 million, or 85.20% 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 $1.18 billion in DVN stocks shares; and STATE STREET CORP, currently with $1.02 billion in DVN stock with ownership of nearly 27.578% of the company’s market capitalization.

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377 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 111,628,210 shares. Additionally, 342 investors decreased positions by around 143,231,308 shares, while 73 investors held positions by with 312,101,689 shares. The mentioned changes placed institutional holdings at 566,961,207 shares, according to the latest SEC report filing. DVN stock had 139 new institutional investments in for a total of 23,415,457 shares, while 112 institutional investors sold positions of 21,952,802 shares during the same period.

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