In the last trading session, 12,527,813 shares of the Devon Energy Corporation (NYSE:DVN) were traded, and its beta was 3.37. Most recently the company’s share price was $22.78, and it changed around $0.32 or 0.01% from the last close, which brings the market valuation of the company to $15.33 Billion. DVN currently trades at a discount to its 52-week high of $26.13, offering almost -14.71% off that amount. The share price’s 52-week low was $7.73, which indicates that the current value has risen by an impressive 66.07% since then. We note from Devon Energy Corporation’s average daily trading volume that its 10-day average is 10.58 Million shares, with the 3-month average coming to 14.4 Million.
Devon Energy Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 34 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 5 recommended DVN as a Hold, whereas 26 deemed it a Buy, and no one rated it as Underweight. Devon Energy Corporation is expected to report earnings per share of $0.29 for the current quarter.
Devon Energy Corporation (NYSE:DVN): Trading Information
Instantly DVN has showed a green trend with a performance of 1.42% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $23.55 on Thursday, Apr 01 increased the stock’s daily price by 3.27%. The company’s shares are currently up 0.44% year-to-date, but still up 0.0426 over the last five days. On the other hand, Devon Energy Corporation (NYSE:DVN) is -0.11% down in the 30-day period. We can see from the shorts that 15.12 Million shares have been sold at a short interest cover period of 1.05 day (s).
The consensus price target as assigned by Wall Street analysts is $29.84, which translates to bears needing to increase their stock price by 30.99% from its current value. Analyst projections state that DVN is forecast to be at a low of $17 and a high of $43. In order for the stock price to hit the forecast high, the stock would need to surge +88.76% from its current level, while the stock would need to crash -25.37% from its current level to reach the projected low.
Devon Energy Corporation (DVN) projections and forecasts
Devon Energy Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +139.14 percent over the past six months and at a -2311.11% annual growth rate that is well below the industry average of 14%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +123.1% in revenue this quarter, and will report an increase of 338.9% in the next quarter. The year-over-year growth rate is expected to be 97.6%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $2.19 Billion in revenue for the current quarter. 8 analysts expect Devon Energy Corporation to make $2.42 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $2.09 Billion and $394Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 4.7%. Forecasts for the next quarter put sales growth at 514.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 26.4%. Devon Energy Corporation earnings are expected to increase by 2133.3% in 2021, but the outlook is positive 25% per year for the next five years.
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DVN Dividend Yield
Devon Energy Corporation’s next quarterly earnings report is expected to be released around May 04, 2021. The annual dividend yield of the stock is 2.8 percent and its annual dividend per share was $0.63. It is important to note, however, that the 2.8% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.61% per year.
Devon Energy Corporation (NYSE:DVN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.91% of Devon Energy Corporation shares, and 56.5% of them are in the hands of institutional investors. The stock currently has a share float of 57.02%. Devon Energy Corporation stock is held by 741 institutions, with EnCap Energy Capital Fund X, L.P. being the largest institutional investor. By Dec 30, 2020, it held 11.73% of the shares, which is about 78.98 Million shares worth $1.25 Billion.
Vanguard Group, Inc. (The), with 9.72% or 65.44 Million shares worth $1.03 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Dec 30, 2020. The former held 16493628 shares worth $260.76 Million, making up 2.45% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 13.9 Million shares worth around $299.34 Million, which represents about 2.06% of the total shares outstanding.