Devon Energy Corporation [DVN] gain 55.53% so far this year. What now?

Devon Energy Corporation [NYSE: DVN] gained 0.87% or 0.59 points to close at $68.51 with a heavy trading volume of 13919448 shares. The company report on August 9, 2022 that Devon Energy Announces Bolt-On Acquisition in the Eagle Ford.


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Devon Energy Corp. (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire Validus Energy, an Eagle Ford operator, for total cash consideration of $1.8 billion. The transaction is subject to customary terms and conditions and is expected to close at the end of the third quarter of 2022, with an effective date of June 1, 2022.

Rick Muncrief, president and CEO stated, “The Validus acquisition captures a top-tier oil resource with a meaningful runway of highly economic inventory that is complementary to our existing footprint in the Eagle Ford. This accretive transaction also enhances our financially-driven strategy that is designed to deliver per-share financial growth and accelerate the return of capital to our shareholders.”.

It opened the trading session at $67.78, the shares rose to $69.90 and dropped to $67.36, the range by which the price of stock traded the whole day. The daily chart for DVN points out that the company has recorded 24.00% gains over the past six months. However, it is still -188.58% lower than its most recent low trading price.

If we look at the average trading volume of 12.31M shares, DVN reached to a volume of 13919448 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 $77.82 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 2.10. 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 2.99, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.59. The Price to Book ratio for the last quarter was 4.43, with the Price to Cash per share for the same quarter was set at 5.33. Price to Free Cash Flow for DVN in the course of the last twelve months was 8.55 with Quick ratio for the last quarter at 1.60.

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 4.52. With this latest performance, DVN shares gained by 21.90% in over the last four-week period, additionally plugging by 24.00% over the last 6 months – not to mention a rise of 178.55% 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 66.31, with the RSI for the last a single of trading hit 72.99, and the three-weeks RSI is set at 61.45 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 59.34, while it was recorded at 65.54 for the last single week of trading, and 55.90 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 1.60 and a Current Ratio set at 1.60.

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 35.66%.

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

There are presently around $35,789 million, or 81.40% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 75,536,447, which is approximately 0.261% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 54,417,688 shares of the stock with an approximate value of $3.73 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.73 billion in DVN stock with ownership of nearly -4.711% of the company’s market capitalization.

Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 677 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 41,442,064 shares. Additionally, 484 investors decreased positions by around 67,719,963 shares, while 115 investors held positions by with 413,233,904 shares. The mentioned changes placed institutional holdings at 522,395,931 shares, according to the latest SEC report filing. DVN stock had 182 new institutional investments in for a total of 9,356,956 shares, while 103 institutional investors sold positions of 7,304,723 shares during the same period.

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