Devon Energy Corporation [DVN] is -7.87% lower this YTD. Is it still time to buy?

Devon Energy Corporation [NYSE: DVN] closed the trading session at $56.67 on 03/03/23. The day’s price range saw the stock hit a low of $54.7765, while the highest price level was $57.13. The company report on February 14, 2023 that Devon Energy Reports Fourth-Quarter and Full-Year 2022 Results; Declares Quarterly Dividend and Raises Fixed Dividend by 11 Percent in 2023.

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The company’s fourth-quarter conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern) on Wednesday, February 15, 2023, and will serve primarily as a forum for analyst and investor questions and answers.

The stocks have a year to date performance of -7.87 percent and weekly performance of 3.04 percent. The stock has been moved at -16.59 percent over the last six months. The stock has performed -8.43 percent around the most recent 30 days and changed -15.74 percent over the most recent 3-months.

If compared to the average trading volume of 9.70M shares, DVN reached to a volume of 10898313 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $71.82 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.

Wells Fargo have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 25, 2023. While these analysts kept the previous recommendation, Mizuho dropped their target price from $86 to $82. The new note on the price target was released on January 10, 2023, representing the official price target for Devon Energy Corporation stock. Previously, the target price had yet another raise to $75, while Jefferies analysts kept a Hold rating on DVN stock.

The Average True Range (ATR) for Devon Energy Corporation is set at 2.07, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.90. The Price to Book ratio for the last quarter was 3.29, with the Price to Cash per share for the same quarter was set at 2.26. Price to Free Cash Flow for DVN in the course of the last twelve months was 13.96 with Quick ratio for the last quarter at 1.20.

DVN stock trade performance evaluation

Devon Energy Corporation [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.04. With this latest performance, DVN shares dropped by -8.43% in over the last four-week period, additionally sinking by -16.59% over the last 6 months – not to mention a rise of 0.43% 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 44.97, with the RSI for the last a single of trading hit 48.82, and the three-weeks RSI is set at 44.01 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 60.56, while it was recorded at 55.11 for the last single week of trading, and 64.64 for the last 200 days.

Devon Energy Corporation [DVN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Devon Energy Corporation [DVN] shares currently have an operating margin of +43.26 and a Gross Margin at +45.26. Devon Energy Corporation’s Net Margin is presently recorded at +30.05.

Return on Equity for this stock inclined to 58.33, with Return on Assets sitting at 26.63.

Devon Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Devon Energy Corporation [DVN] stock

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 -5.12%.

Devon Energy Corporation [DVN]: Insider Ownership positions

There are presently around $28,167 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 77,845,552, which is approximately 0.871% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 56,829,433 shares of the stock with an approximate value of $3.22 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.44 billion in DVN stock with ownership of nearly 0.478% of the company’s market capitalization.

736 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 24,551,954 shares. Additionally, 580 investors decreased positions by around 48,181,159 shares, while 141 investors held positions by with 424,299,113 shares. The mentioned changes placed institutional holdings at 497,032,226 shares, according to the latest SEC report filing. DVN stock had 213 new institutional investments in for a total of 5,797,978 shares, while 110 institutional investors sold positions of 15,205,219 shares during the same period.


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