Devon Energy Corporation [NYSE: DVN] loss -1.37% or -0.87 points to close at $62.62 with a heavy trading volume of 8321139 shares. The company report on January 11, 2023 that Devon Energy Schedules Fourth-Quarter and Full-Year 2022 Earnings Release and Conference Call.
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On Wednesday, Feb. 15, the company will hold a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time), which will consist primarily of answers to questions from analysts and investors. A webcast link to the conference call will be provided on Devon’s website at www.devonenergy.com. A replay will be available on the website following the call.
It opened the trading session at $64.04, the shares rose to $65.41 and dropped to $62.59, the range by which the price of stock traded the whole day. The daily chart for DVN points out that the company has recorded 13.77% gains over the past six months. However, it is still -51.84% lower than its most recent low trading price.
If we look at the average trading volume of 9.66M shares, DVN reached to a volume of 8321139 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 $78.09 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.
Mizuho have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on October 19, 2022, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $83, while JP Morgan analysts kept a Neutral rating on DVN stock.
The Average True Range (ATR) for Devon Energy Corporation is set at 2.18, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 3.74, with the Price to Cash per share for the same quarter was set at 1.99. Price to Free Cash Flow for DVN in the course of the last twelve months was 12.07 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for DVN stock
Devon Energy Corporation [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.81. With this latest performance, DVN shares gained by 1.69% in over the last four-week period, additionally plugging by 13.77% over the last 6 months – not to mention a rise of 29.17% 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 50.09, with the RSI for the last a single of trading hit 51.73, and the three-weeks RSI is set at 47.97 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 64.92, while it was recorded at 63.32 for the last single week of trading, and 65.00 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 30.77%.
An analysis of insider ownership at Devon Energy Corporation [DVN]
There are presently around $32,443 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 $3.59 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.68 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 43,387,919 shares. Additionally, 498 investors decreased positions by around 43,781,834 shares, while 132 investors held positions by with 430,931,390 shares. The mentioned changes placed institutional holdings at 518,101,143 shares, according to the latest SEC report filing. DVN stock had 176 new institutional investments in for a total of 12,267,815 shares, while 91 institutional investors sold positions of 3,686,977 shares during the same period.