Devon Energy Corporation [DVN] Stock trading around $45.57 per share: What’s Next?


Devon Energy Corporation [NYSE: DVN] gained 3.45% on the last trading session, reaching $45.57 price per share at the time. The company report on December 21, 2021 that Devon Energy Corporation Extends Exchange Offers With Respect to Certain of Its Senior Notes.

Devon Energy Corporation (NYSE: DVN) (the “Company” or “Devon”) today announced that it has extended until December 29, 2021 at 5:00 p.m., New York City time, the expiration date of its offers to exchange:.

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an aggregate principal amount of up to $224,079,000 of its 8.250% Senior Notes due 2023, which have been registered under the Securities Act of 1933, as amended (the “Securities Act”), for an equal principal amount of the Company’s outstanding 8.250% Senior Notes due 2023 (the “Old 2023 Notes”); .

Devon Energy Corporation represents 671.00 million in outstanding shares, while the company has a total market value of $31.03 billion with the latest information. DVN stock price has been found in the range of $43.97 to $45.765.

If compared to the average trading volume of 10.92M shares, DVN reached a trading volume of 9842249 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 $51.27 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.

The Benchmark Company have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 03, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Hold. The new note on the price target was released on October 26, 2021, representing the official price target for Devon Energy Corporation stock. On June 18, 2021, analysts increased their price target for DVN shares from 28 to 32.

The Average True Range (ATR) for Devon Energy Corporation is set at 2.02, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.48. 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 3.41. Price to Free Cash Flow for DVN in the course of the last twelve months was 11.27 with Quick ratio for the last quarter at 1.20.

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 2.15. With this latest performance, DVN shares gained by 13.25% in over the last four-week period, additionally plugging by 71.48% over the last 6 months – not to mention a rise of 200.62% 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 62.89, with the RSI for the last a single of trading hit 65.90, and the three-weeks RSI is set at 58.90 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 42.31, while it was recorded at 44.40 for the last single week of trading, and 31.64 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%.

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

There are presently around $26,711 million, or 92.10% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 76,323,565, which is approximately 1.184% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 54,624,991 shares of the stock with an approximate value of $2.41 billion in DVN stocks shares; and STATE STREET CORP, currently with $1.87 billion in DVN stock with ownership of nearly 4.907% of the company’s market capitalization.

Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 457 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 76,465,272 shares. Additionally, 309 investors decreased positions by around 55,690,334 shares, while 122 investors held positions by with 474,215,391 shares. The mentioned changes placed institutional holdings at 606,370,997 shares, according to the latest SEC report filing. DVN stock had 154 new institutional investments in for a total of 10,896,865 shares, while 78 institutional investors sold positions of 6,602,387 shares during the same period.