Devon Energy Corporation [NYSE: DVN] slipped around -3.39 points on Tuesday, while shares priced at $58.12 at the close of the session, down -5.51%. The company report on January 3, 2023 that Devon Energy Appoints Michael Mears and Gennifer Kelly to Board of Directors.
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“I am excited about the opportunity to work closely with Michael and Gennifer,” said Rick Muncrief, president and CEO. “Their industry insights and proven leadership will be invaluable for Devon as we continue to build long-term shareholder value.”.
Devon Energy Corporation stock is now -5.51% down from its year-to-date (YTD) trading value. DVN Stock saw the intraday high of $61.26 and lowest of $57.22 per share. The company’s 52-week high price is 77.37, which means current price is +1.57% above from all time high which was touched on 01/03/23.
Compared to the average trading volume of 10.30M shares, DVN reached a trading volume of 10598801 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $79.47 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 2.30, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.97. The Price to Book ratio for the last quarter was 3.47, with the Price to Cash per share for the same quarter was set at 2.02. Price to Free Cash Flow for DVN in the course of the last twelve months was 11.04 with Quick ratio for the last quarter at 1.20.
How has DVN stock performed recently?
Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.02. With this latest performance, DVN shares dropped by -13.28% in over the last four-week period, additionally plugging by 16.42% over the last 6 months – not to mention a rise of 37.14% 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 37.18, with the RSI for the last a single of trading hit 33.95, and the three-weeks RSI is set at 38.82 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 67.42, while it was recorded at 60.96 for the last single week of trading, and 64.92 for the last 200 days.
Devon Energy Corporation [DVN]: Deeper insight into the 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 1.20 and a Current Ratio set at 1.20.
Earnings analysis for Devon Energy Corporation [DVN]
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%.
Insider trade positions for Devon Energy Corporation [DVN]
There are presently around $30,109 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 $3.33 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.49 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 February and at the time of the February reporting period, where 710 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 43,525,264 shares. Additionally, 484 investors decreased positions by around 44,070,962 shares, while 139 investors held positions by with 430,460,117 shares. The mentioned changes placed institutional holdings at 518,056,343 shares, according to the latest SEC report filing. DVN stock had 174 new institutional investments in for a total of 12,315,613 shares, while 94 institutional investors sold positions of 3,711,678 shares during the same period.