Devon Energy Corporation [DVN] gain 23.68% so far this year. What now?

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Devon Energy Corporation [NYSE: DVN] gained 1.51% on the last trading session, reaching $54.48 price per share at the time. The company report on June 22, 2022 that Devon Energy Schedules Second-Quarter 2022 Earnings Release and Conference Call.


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Devon Energy Corp. (NYSE: DVN) today announced it will report second-quarter 2022 results on Monday, Aug. 1, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2022 results will be available on the company’s website at www.devonenergy.com.

On Tuesday, Aug. 2, 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.

Devon Energy Corporation represents 656.00 million in outstanding shares, while the company has a total market value of $35.42 billion with the latest information. DVN stock price has been found in the range of $52.82 to $54.95.

If compared to the average trading volume of 12.78M shares, DVN reached a trading volume of 10962962 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 $79.62 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 2.00. 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 In-line, with their previous recommendation back on June 07, 2022. The new note on the price target was released on May 25, 2022, representing the official price target for Devon Energy Corporation stock. On January 21, 2022, analysts increased their price target for DVN shares from 46 to 52.

The Average True Range (ATR) for Devon Energy Corporation is set at 3.57, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.54. The Price to Book ratio for the last quarter was 3.84, with the Price to Cash per share for the same quarter was set at 4.04. Price to Free Cash Flow for DVN in the course of the last twelve months was 7.31 with Quick ratio for the last quarter at 1.30.

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 -1.14. With this latest performance, DVN shares dropped by -30.19% in over the last four-week period, additionally plugging by 16.88% over the last 6 months – not to mention a rise of 102.20% 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 38.23, with the RSI for the last a single of trading hit 38.80, and the three-weeks RSI is set at 39.92 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 65.66, while it was recorded at 53.23 for the last single week of trading, and 52.85 for the last 200 days.

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

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 1.30 and a Current Ratio set at 1.30.

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 21.70%.

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

There are presently around $29,857 million, or 84.90% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 75,339,676, which is approximately 0.724% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 54,981,392 shares of the stock with an approximate value of $3.0 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.28 billion in DVN stock with ownership of nearly 0.03% of the company’s market capitalization.

623 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 46,660,828 shares. Additionally, 446 investors decreased positions by around 73,936,717 shares, while 102 investors held positions by with 427,439,436 shares. The mentioned changes placed institutional holdings at 548,036,981 shares, according to the latest SEC report filing. DVN stock had 252 new institutional investments in for a total of 9,386,410 shares, while 73 institutional investors sold positions of 2,877,290 shares during the same period.

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