Devon Energy Corp [NYSE: DVN] gained 0.78% or 0.3 points to close at $38.77 with a heavy trading volume of 6567371 shares.
The daily chart for DVN points out that the company has recorded -21.84% loss over the past six months.
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If we look at the average trading volume of 7.88M shares, DVN reached to a volume of 6567371 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 Corp [DVN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DVN shares is $51.96 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 1.88. 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.
Truist have made an estimate for Devon Energy Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 07, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on October 03, 2024, representing the official price target for Devon Energy Corp stock.
The Average True Range (ATR) for Devon Energy Corp is set at 1.02, with the Price to Sales ratio for DVN stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 1.05.
Trading performance analysis for DVN stock
Devon Energy Corp [DVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.49. With this latest performance, DVN shares dropped by -4.65% in over the last four-week period, additionally sinking by -21.84% over the last 6 months – not to mention a drop of -10.16% 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 44.44, with the RSI for the last a single of trading hit 45.36, and the three-weeks RSI is set at 43.85 for Devon Energy Corp [DVN]. The present Moving Average for the last 50 days of trading for this stock 40.04, while it was recorded at 38.81 for the last single week of trading, and 45.36 for the last 200 days.
Devon Energy Corp [DVN]: A deeper dive into fundamental analysis
Devon Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.01 and a Current Ratio set at 1.11.
Devon Energy Corp [DVN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Devon Energy Corp posted 1.41/share EPS, while the average EPS was predicted by analysts to be reported at 1.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.01. 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 -7.00%.
An analysis of Institutional ownership at Devon Energy Corp [DVN]
There are presently around $72.30%, or 72.84%% of DVN stock, in the hands of institutional investors. The top three institutional holders of DVN stocks are: VANGUARD GROUP INC with ownership of 75.71 million shares, which is approximately 12.0362%. BLACKROCK INC., holding 48.9 million shares of the stock with an approximate value of $$2.32 billion in DVN stocks shares; and BLACKROCK INC., currently with $$1.96 billion in DVN stock with ownership which is approximately 6.5774%.
