Devon Energy Corp. [NYSE: DVN] stock went on an upward path that rose over 0.30% on Monday, amounting to a one-week price increase of more than 4.87%. The company report on March 27, 2024 at 10:00 AM that Devon Energy Schedules First-Quarter 2024 Earnings Release and Conference Call.
On Thursday, May 2, 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.
Over the last 12 months, DVN stock rose by 3.24%. The one-year Devon Energy Corp. stock forecast points to a potential upside of 2.3. The average equity rating for DVN stock is currently 1.76, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $33.93 billion, with 635.70 million shares outstanding and 630.39 million shares in the current float. Compared to the average trading volume of 8.20M shares, DVN stock reached a trading volume of 7178069 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $54.69 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 1.76. 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 Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 01, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $48 to $52. The new note on the price target was released on December 11, 2023, representing the official price target for Devon Energy Corp. stock. Previously, the target price had yet another raise from $57 to $58, while JP Morgan kept a Overweight rating on DVN stock.
The Average True Range (ATR) for Devon Energy Corp. is set at 0.88, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 2.82, with the Price to Cash per share for the same quarter was set at 1.38. Price to Free Cash Flow for DVN in the course of the last twelve months was 12.91 with Quick ratio for the last quarter at 0.99.
DVN Stock Performance Analysis:
Devon Energy Corp. [DVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.87. With this latest performance, DVN shares gained by 16.97% in over the last four-week period, additionally plugging by 26.91% over the last 6 months – not to mention a rise of 3.24% 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 86.08, with the RSI for the last a single of trading hit 89.27, and the three-weeks RSI is set at 81.10 for Devon Energy Corp. [DVN]. The present Moving Average for the last 50 days of trading for this stock 45.72, while it was recorded at 52.73 for the last single week of trading, and 47.07 for the last 200 days.
Insight into Devon Energy Corp. Fundamentals:
Devon Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.99 and a Current Ratio set at 1.07.
DVN Stock EPS
With the latest financial reports released by the company, Devon Energy Corp. posted 1.46/share EPS, while the average EPS was predicted by analysts to be reported at 1.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.80%. 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] Institutonal Ownership Details
The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in DVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in DVN stock with ownership which is approximately 5.8386%.
