Morgan Stanley slashes price target on Devon Energy Corp. [DVN] – find out why.

Devon Energy Corp. [NYSE: DVN] surged by $0.55 during the normal trading session on while it closed the day at $43.32. The company report on January 23, 2024 at 4:05 PM that Devon Energy Announces Chief Accounting Officer Retirement and Officer Appointment.

“On behalf of the entire organization, I would like to thank Jeremy for the meaningful contributions he made during his 20-year career with Devon,” said Jeff Ritenour, Executive Vice President and Chief Financial Officer. “Jeremy led the accounting organization with technical excellence, fostered innovation, leveraged technology, and exemplified Devon’s value of integrity. Jeremy will be greatly missed by his Devon colleagues, and we wish him the very best.”.

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Devon Energy Corp. stock has also gained 4.89% of its value over the past 7 days. However, DVN stock has declined by -6.17% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.26% and lost -4.37% year-on date.

The market cap for DVN stock reached $27.76 billion, with 653.00 million shares outstanding and 635.83 million shares in the current float. Compared to the average trading volume of 9.01M shares, DVN reached a trading volume of 5998104 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 Corp. [DVN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DVN shares is $53.15 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 1.84. 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.

Morgan Stanley have made an estimate for Devon Energy Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 11, 2023.

The Average True Range (ATR) for Devon Energy Corp. is set at 0.95, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for DVN in the course of the last twelve months was 9.69 with Quick ratio for the last quarter at 0.89.

DVN stock trade performance evaluation

Devon Energy Corp. [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.89. With this latest performance, DVN shares dropped by -5.33% in over the last four-week period, additionally sinking by -18.26% over the last 6 months – not to mention a drop of -30.71% 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 50.25, with the RSI for the last a single of trading hit 56.78, and the three-weeks RSI is set at 47.25 for Devon Energy Corp. [DVN]. The present Moving Average for the last 50 days of trading for this stock 44.28, while it was recorded at 42.56 for the last single week of trading, and 48.04 for the last 200 days.

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

Devon Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 0.96.

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

With the latest financial reports released by the company, Devon Energy Corp. posted 1.66/share EPS, while the average EPS was predicted by analysts to be reported at 1.75/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.10%. 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 Corp. go to -2.94%.

Devon Energy Corp. [DVN]: Institutional Ownership

The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DVN stock with ownership which is approximately 5.8325%.