Devon Energy Corporation [NYSE: DVN] gained 1.17% on the last trading session, reaching $63.24 price per share at the time. The company report on November 8, 2022 that Devon Energy Releases 2022 Sustainability Report Highlighting Progress on Environmental Targets and Focus on the Reliability and Resilience of Its Business.
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“Devon’s continued progress on our ESG targets is something I’m extremely proud of,” said Rick Muncrief, president and CEO. “As a company we aim to lead by example by using the same thoughtful, disciplined, and balanced approach with our ESG performance as we do with our financial performance.
Devon Energy Corporation represents 649.00 million in outstanding shares, while the company has a total market value of $39.75 billion with the latest information. DVN stock price has been found in the range of $62.63 to $63.625.
If compared to the average trading volume of 10.65M shares, DVN reached a trading volume of 6757164 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 $79.55 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 2.20. 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.
Jefferies have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 19, 2022. The new note on the price target was released on September 15, 2022, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $80, while Evercore ISI analysts kept a In-line rating on DVN stock.
The Average True Range (ATR) for Devon Energy Corporation is set at 2.35, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 3.78, with the Price to Cash per share for the same quarter was set at 2.08. Price to Free Cash Flow for DVN in the course of the last twelve months was 11.64 with Quick ratio for the last quarter at 1.20.
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 6.72. With this latest performance, DVN shares dropped by -5.74% in over the last four-week period, additionally plugging by 10.55% over the last 6 months – not to mention a rise of 47.35% 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 49.05, with the RSI for the last a single of trading hit 52.43, and the three-weeks RSI is set at 46.40 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 68.26, while it was recorded at 61.40 for the last single week of trading, and 64.79 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 1.20 and a Current Ratio set at 1.20.
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 31.32%.
An analysis of insider ownership at Devon Energy Corporation [DVN]
There are presently around $32,938 million, or 80.70% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 77,173,489, which is approximately 2.167% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 57,292,830 shares of the stock with an approximate value of $3.62 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.71 billion in DVN stock with ownership of nearly 7.271% of the company’s market capitalization.
Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 716 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 43,614,354 shares. Additionally, 484 investors decreased positions by around 44,463,059 shares, while 140 investors held positions by with 432,756,166 shares. The mentioned changes placed institutional holdings at 520,833,579 shares, according to the latest SEC report filing. DVN stock had 176 new institutional investments in for a total of 12,362,192 shares, while 93 institutional investors sold positions of 3,705,854 shares during the same period.