Devon Energy Corporation (NYSE: DVN): How It Has Performed & Trended – Marketing Sentinel
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Devon Energy Corporation (NYSE: DVN): How It Has Performed & Trended

In the last trading session, 10.91 million shares of the Devon Energy Corporation (NYSE:DVN) were traded, and its beta was 3.16. Most recently the company’s share price was $39.86, and it changed around $1.46 or 3.80% from the last close, which brings the market valuation of the company to $26.00B. DVN currently trades at a discount to its 52-week high of $40.24, offering almost -0.95% off that amount. The share price’s 52-week low was $7.51, which indicates that the current value has risen by an impressive 81.16% since then. We note from Devon Energy Corporation’s average daily trading volume that its 10-day average is 15.77 million shares, with the 3-month average coming to 11.48 million.

Devon Energy Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 34 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 4 recommended DVN as a Hold, whereas 27 deemed it a Buy, and 1 rated it as Underweight. Devon Energy Corporation is expected to report earnings per share of $0.89 for the current quarter.

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Devon Energy Corporation (NYSE:DVN) trade information

Instantly DVN has showed a green trend with a performance of 3.80% 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 40.24 on Friday, 10/08/21 increased the stock’s daily price by 0.94%. The company’s shares are currently up 159.55% year-to-date, but still up 8.29% over the last five days. On the other hand, Devon Energy Corporation (NYSE:DVN) is 42.00% up in the 30-day period. We can see from the shorts that 19.93 million shares have been sold at a short interest cover period of 2.09 day(s).

The consensus price target as assigned by Wall Street analysts is $40.74, which translates to bulls needing to increase their stock price by 2.16% from its current value. Analyst projections state that DVN is forecast to be at a low of $32.00 and a high of $56.00. In order for the stock price to hit the forecast high, the stock would need to plunge -40.49% from its current level, while the stock would need to crash 19.72% from its current level to reach the projected low.

Devon Energy Corporation (DVN) estimates and forecasts

Devon Energy Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 86.10 percent over the past six months and at a 3,333.33% annual growth rate that is well above the industry average of 10.30%. The year-over-year growth rate is expected to be 124.30%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $3.17 billion in revenue for the current quarter. 7 analysts expect Devon Energy Corporation to make $3.15 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $1.07 billion and $1.28 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 196.80%. Forecasts for the next quarter put sales growth at 146.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 26.40%. Devon Energy Corporation earnings are expected to increase by 3266.70% in 2021, but the outlook is positive 25.00% per year for the next five years.

DVN Dividends

Devon Energy Corporation’s next quarterly earnings report is expected to be released around October 27 and November 01. The annual dividend yield of the stock is 1.10 percent and its annual dividend per share was 0.44. It is important to note, however, that the 1.10% 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 1.54 per year.

Devon Energy Corporation (NYSE:DVN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.85% of Devon Energy Corporation shares, and 88.88% of them are in the hands of institutional investors. The stock currently has a share float of 89.65%. Devon Energy Corporation stock is held by 978 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Jun 29, 2021, it held 11.14% of the shares, which is about 75.43 million shares worth $2.2 billion.

Blackrock Inc., with 7.78% or 52.7 million shares worth $1.54 billion as of Jun 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Jun 29, 2021. The former held 19.12 million shares worth $558.2 million, making up 2.82% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 16.52 million shares worth around $482.14 million, which represents about 2.44% of the total shares outstanding.

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