The Benchmark Company slashes price target on Devon Energy Corporation [DVN] – find out why.


Devon Energy Corporation [NYSE: DVN] closed the trading session at $58.27 on 03/18/22. The day’s price range saw the stock hit a low of $57.395, while the highest price level was $58.6264. The company report on March 17, 2022 that Devon Energy Pledges Up to $20 Million to Aid Humanitarian Efforts in Ukraine.

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Devon Energy announced today a pledge of up to $20 million to support humanitarian efforts in Ukraine and neighboring countries supporting Ukrainian refugees. These donations will be split among several organizations providing emergency medical care, food supplies, financial support, and housing for displaced civilians and refugees in the region.

Homes, roads, airports, and schools in Ukraine lie in ruins, with dozens of health facilities also suffering attacks while hundreds of thousands are without water or electricity.

The stocks have a year to date performance of 32.28 percent and weekly performance of -0.63 percent. The stock has been moved at 102.18 percent over the last six months. The stock has performed 8.21 percent around the most recent 30 days and changed 44.38 percent over the most recent 3-months.

If compared to the average trading volume of 13.85M shares, DVN reached to a volume of 19543601 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $63.66 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 Hold, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $46 to $52. The new note on the price target was released on January 21, 2022, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise from $50 to $57, while BofA Securities kept a Neutral rating on DVN stock.

The Average True Range (ATR) for Devon Energy Corporation is set at 3.35, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 3.21. The Price to Book ratio for the last quarter was 4.15, with the Price to Cash per share for the same quarter was set at 3.46. Price to Free Cash Flow for DVN in the course of the last twelve months was 10.75 with Quick ratio for the last quarter at 1.40.

DVN stock trade performance evaluation

Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.63. With this latest performance, DVN shares gained by 8.21% in over the last four-week period, additionally plugging by 102.18% over the last 6 months – not to mention a rise of 171.03% 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 56.78, with the RSI for the last a single of trading hit 56.90, and the three-weeks RSI is set at 57.26 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 53.35, while it was recorded at 54.79 for the last single week of trading, and 39.20 for the last 200 days.

Devon Energy Corporation [DVN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Devon Energy Corporation [DVN] shares currently have an operating margin of +35.04 and a Gross Margin at +37.88. Devon Energy Corporation’s Net Margin is presently recorded at +20.24.

Return on Equity for this stock inclined to 45.82, with Return on Assets sitting at 17.99.

Devon Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Earnings per share (EPS) analysis for Devon Energy Corporation [DVN] stock

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 17.23%.

Devon Energy Corporation [DVN]: Insider Ownership positions

There are presently around $33,595 million, or 87.60% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 74,797,975, which is approximately -1.999% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 54,742,953 shares of the stock with an approximate value of $3.19 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.44 billion in DVN stock with ownership of nearly -1.157% 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 514 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 42,825,582 shares. Additionally, 391 investors decreased positions by around 73,457,360 shares, while 111 investors held positions by with 460,254,392 shares. The mentioned changes placed institutional holdings at 576,537,334 shares, according to the latest SEC report filing. DVN stock had 209 new institutional investments in for a total of 11,743,074 shares, while 84 institutional investors sold positions of 9,860,627 shares during the same period.