Market Analysts see Devon Energy Corporation [DVN] gaining to $83. Time to buy?

Devon Energy Corporation [NYSE: DVN] stock went on a downward path that fall over -3.83% on Friday, amounting to a one-week price decrease of less than -2.47%. The company report on September 15, 2022 that Devon Energy Announces Executive Chairman Retirement and Succession Plan.


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Devon Energy Corp. (NYSE: DVN) announced today that the company’s board of directors expects to appoint Barbara Baumann as chair of the board, succeeding Dave Hager, who has notified the board of his plans to retire from the board in January 2023. This transition aligns with Devon’s continuing focus on strong corporate values, governance principles, and strategic vision.

“It has been a great joy and a privilege to spend the past 15 years with this great company and I am very proud of what our high-quality team has accomplished during this time to position Devon for the success it is having today,” said Dave Hager, executive chairman. “I have high confidence in the strategic direction of Devon, and I know that the company is in good hands with Rick and Barbara’s leadership to continue to deliver strong results for all stakeholders.”.

Over the last 12 months, DVN stock rose by 128.64%. The one-year Devon Energy Corporation stock forecast points to a potential upside of 15.83. 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 $45.50 billion, with 652.00 million shares outstanding and 646.51 million shares in the current float. Compared to the average trading volume of 12.74M shares, DVN stock reached a trading volume of 30938721 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 $79.39 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.

JP Morgan have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 15, 2022. The new note on the price target was released on June 07, 2022, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $73, while Barclays analysts kept a Equal Weight rating on DVN stock.

The Average True Range (ATR) for Devon Energy Corporation is set at 3.02, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.65. The Price to Book ratio for the last quarter was 4.32, with the Price to Cash per share for the same quarter was set at 5.08. Price to Free Cash Flow for DVN in the course of the last twelve months was 8.75 with Quick ratio for the last quarter at 1.60.

DVN Stock Performance Analysis:

Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.47. With this latest performance, DVN shares gained by 6.29% in over the last four-week period, additionally plugging by 18.52% over the last 6 months – not to mention a rise of 128.64% 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 49.66, with the RSI for the last a single of trading hit 42.93, and the three-weeks RSI is set at 50.29 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 63.12, while it was recorded at 69.75 for the last single week of trading, and 58.51 for the last 200 days.

Insight into Devon Energy Corporation 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 1.60 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 37.13%.

Devon Energy Corporation [DVN] Insider Position Details

There are presently around $34,935 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 0.50% of the total institutional ownership; BLACKROCK INC., holding 54,417,688 shares of the stock with an approximate value of $3.64 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.67 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 681 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 40,906,205 shares. Additionally, 485 investors decreased positions by around 67,591,368 shares, while 114 investors held positions by with 414,330,956 shares. The mentioned changes placed institutional holdings at 522,828,529 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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