Devon Energy Corporation [DVN] Revenue clocked in at $17.01 billion, down -11.85% YTD: What’s Next?

Devon Energy Corporation [NYSE: DVN] price surged by 3.58 percent to reach at $1.83. The company report on August 7, 2023 at 4:35 PM that WaterBridge NDB and Devon Energy Form Strategic Delaware Basin Produced Water Partnership.

WaterBridge NDB LLC (together with its subsidiaries, “WaterBridge NDB”), a portfolio company of Five Point Energy LLC (“Five Point”), announced today the formation of NDB Midstream LLC, a strategic partnership with WPX Energy Permian, LLC (“Devon”), a subsidiary of Devon Energy Corp. (NYSE: DVN). The partnership between two technical leaders, WaterBridge NDB within the produced water handling sector and Devon with 50-plus years of innovation in oil and gas, yields the largest private water infrastructure system in the prolific Stateline region of the Delaware Basin in Loving County, Texas and Lea and Eddy counties in New Mexico.

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In connection with the transaction, Devon and NDB Midstream entered into a long-term agreement pursuant to which Devon has committed all of its produced water within a large area of mutual interest, including an initial dedication of ~52,000 acres, and contributed to NDB Midstream 18 SWDs with ~375,000 bpd of permitted capacity and ~210 miles of produced water pipelines for gathering, transportation, disposal and reuse.  As part of the transaction, Devon received a 30% equity interest in NDB Midstream as well as a commitment by Five Point to fund a portion of the initial build of the system expansion.

A sum of 9324701 shares traded at recent session while its average daily volume was at 8.03M shares. Devon Energy Corporation shares reached a high of $53.34 and dropped to a low of $51.76 until finishing in the latest session at $52.92.

The one-year DVN stock forecast points to a potential upside of 11.99. The average equity rating for DVN stock is currently 2.10, 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 $60.13 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 2.10. 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.

Goldman have made an estimate for Devon Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 13, 2023.

The Average True Range (ATR) for Devon Energy Corporation is set at 1.27, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.92. The Price to Book ratio for the last quarter was 3.06, with the Price to Cash per share for the same quarter was set at 0.79. Price to Free Cash Flow for DVN in the course of the last twelve months was 30.85 with Quick ratio for the last quarter at 0.90.

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 4.94. With this latest performance, DVN shares gained by 4.11% in over the last four-week period, additionally sinking by -4.32% over the last 6 months – not to mention a drop of -20.19% 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 64.12, with the RSI for the last a single of trading hit 72.07, and the three-weeks RSI is set at 59.69 for Devon Energy Corporation [DVN]. The present Moving Average for the last 50 days of trading for this stock 50.29, while it was recorded at 51.19 for the last single week of trading, and 54.73 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 0.90 and a Current Ratio set at 1.00.


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 -2.94%.

Devon Energy Corporation [DVN] Institutonal Ownership Details

The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in DVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in DVN stock with ownership which is approximately 5.7381%.

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