Devon Energy Corporation [NYSE: DVN] price plunged by -0.72 percent to reach at -$0.4. The company report on April 11, 2023 that Devon Energy Schedules First-Quarter 2023 Earnings Release and Conference Call.
On Tuesday, May 9, 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.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
A sum of 6124814 shares traded at recent session while its average daily volume was at 10.58M shares. Devon Energy Corporation shares reached a high of $56.19 and dropped to a low of $55.08 until finishing in the latest session at $55.30.
The one-year DVN stock forecast points to a potential upside of 17.27. The average equity rating for DVN stock is currently 2.20, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $66.84 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 1.64, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 2.24. Price to Free Cash Flow for DVN in the course of the last twelve months was 13.74 with Quick ratio for the last quarter at 1.20.
DVN Stock Performance Analysis:
Devon Energy Corporation [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.58. With this latest performance, DVN shares gained by 19.52% in over the last four-week period, additionally sinking by -20.93% over the last 6 months – not to mention a drop of -8.57% 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 61.85, with the RSI for the last a single of trading hit 69.18, and the three-weeks RSI is set at 55.29 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 53.75, while it was recorded at 55.01 for the last single week of trading, and 61.98 for the last 200 days.
Insight into Devon Energy Corporation 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 Total Capital for DVN is now 50.20, given the latest momentum, and Return on Invested Capital for the company is 35.45. Return on Equity for this stock inclined to 58.33, with Return on Assets sitting at 26.63. When it comes to the capital structure of this company, Devon Energy Corporation [DVN] has a Total Debt to Total Equity ratio set at 60.16. Additionally, DVN Total Debt to Total Capital is recorded at 37.56, with Total Debt to Total Assets ending up at 28.32. Long-Term Debt to Equity for the company is recorded at 57.72, with the Long-Term Debt to Total Capital now at 36.04.
Reflecting on the efficiency of the workforce at the company, Devon Energy Corporation [DVN] managed to generate an average of $3,310,000 per employee. Receivables Turnover for the company is 11.69 with a Total Asset Turnover recorded at a value of 0.89.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.
DVN Stock EPS
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 -4.02%.
Devon Energy Corporation [DVN] Insider Position Details
There are presently around $27,363 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 $3.17 billion in DVN stocks shares; and STATE STREET CORP, currently with $2.4 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 Monday and at the time of the Monday reporting period, where 726 institutional holders increased their position in Devon Energy Corporation [NYSE:DVN] by around 24,672,935 shares. Additionally, 587 investors decreased positions by around 47,838,928 shares, while 146 investors held positions by with 418,743,150 shares. The mentioned changes placed institutional holdings at 491,255,013 shares, according to the latest SEC report filing. DVN stock had 212 new institutional investments in for a total of 5,562,867 shares, while 125 institutional investors sold positions of 15,348,629 shares during the same period.