Wall Street Analyst Initiated Devon Energy Corporation [DVN]. What else is Wall St. saying

Devon Energy Corporation [NYSE: DVN] loss -2.30% on the last trading session, reaching $51.76 price per share at the time. 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.

Devon Energy Corporation represents 648.00 million in outstanding shares, while the company has a total market value of $34.65 billion with the latest information. DVN stock price has been found in the range of $51.335 to $53.67.

If compared to the average trading volume of 9.49M shares, DVN reached a trading volume of 12337536 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 $70.46 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 2.01, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 2.17. Price to Free Cash Flow for DVN in the course of the last twelve months was 13.28 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 -8.66. With this latest performance, DVN shares dropped by -15.60% in over the last four-week period, additionally sinking by -21.93% over the last 6 months – not to mention a drop of -8.72% 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 32.11, with the RSI for the last a single of trading hit 27.53, and the three-weeks RSI is set at 35.23 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 59.83, while it was recorded at 54.15 for the last single week of trading, and 64.22 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 +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.

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 -5.12%.

An analysis of insider ownership at Devon Energy Corporation [DVN]

There are presently around $25,729 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 $2.94 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.23 billion in DVN stock with ownership of nearly 0.478% of the company’s market capitalization.

Positions in Devon Energy Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 737 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 24,597,836 shares. Additionally, 578 investors decreased positions by around 48,165,314 shares, while 141 investors held positions by with 424,319,401 shares. The mentioned changes placed institutional holdings at 497,082,551 shares, according to the latest SEC report filing. DVN stock had 212 new institutional investments in for a total of 5,793,535 shares, while 109 institutional investors sold positions of 15,201,351 shares during the same period.


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