Wall Street Analyst Downgrade Devon Energy Corporation [DVN]. What else is Wall St. saying

Devon Energy Corporation [NYSE: DVN] stock went on an upward path that rose over 3.91% on Monday, amounting to a one-week price increase of more than 3.26%. The company report on September 5, 2022 that Delfin Midstream and Devon Energy Enter into LNG Export Partnership.


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Parties agree to strategic Pre-FID Investment by Devon in Delfin and Heads of Agreement representing at least 1.0, and up to 2.0, million tonnes per annum of liquefaction capacity.

Delfin Midstream Inc. (“Delfin”) and Devon Energy Corporation (NYSE: DVN) (together with certain of its operating subsidiaries, collectively, “Devon”) today announced that they have entered into a liquefied natural gas (LNG) export partnership that includes an executed Heads of Agreement (“HOA”) for long-term liquefaction capacity and a pre-Financial Investment Decision (FID) strategic investment by Devon in Delfin.

Over the last 12 months, DVN stock rose by 163.04%. The one-year Devon Energy Corporation stock forecast points to a potential upside of 10.17. The average equity rating for DVN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $46.89 billion, with 652.00 million shares outstanding and 646.53 million shares in the current float. Compared to the average trading volume of 12.86M shares, DVN stock reached a trading volume of 10933627 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $79.25 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 2.87, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.73. The Price to Book ratio for the last quarter was 4.60, with the Price to Cash per share for the same quarter was set at 5.25. Price to Free Cash Flow for DVN in the course of the last twelve months was 9.02 with Quick ratio for the last quarter at 1.60.

DVN Stock Performance Analysis:

Devon Energy Corporation [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.26. With this latest performance, DVN shares gained by 12.68% in over the last four-week period, additionally plugging by 23.86% over the last 6 months – not to mention a rise of 163.04% 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 62.52, with the RSI for the last a single of trading hit 59.99, and the three-weeks RSI is set at 58.64 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 61.80, while it was recorded at 69.30 for the last single week of trading, and 57.99 for the last 200 days.

Insight into Devon Energy Corporation Fundamentals:

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.

DVN Stock EPS

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 36.60%.

Devon Energy Corporation [DVN] Insider Position Details

There are presently around $37,219 million, or 80.20% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 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 $3.87 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.84 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 680 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 40,904,683 shares. Additionally, 484 investors decreased positions by around 67,587,072 shares, while 115 investors held positions by with 414,326,122 shares. The mentioned changes placed institutional holdings at 522,817,877 shares, according to the latest SEC report filing. DVN stock had 183 new institutional investments in for a total of 9,505,984 shares, while 104 institutional investors sold positions of 7,309,125 shares during the same period.

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