Devon Energy Corporation (NYSE: DVN) Stock: Boom Or Bust? What Happens Next? – Marketing Sentinel
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Devon Energy Corporation (NYSE: DVN) Stock: Boom Or Bust? What Happens Next?

During the recent session, Devon Energy Corporation (NYSE:DVN)’s traded shares were 4.38 million, with the beta value of the company hitting 2.49. At the last check today, the stock’s price was $56.47, reflecting an intraday loss of -1.87% or -$1.08. The 52-week high for the DVN share is $79.40, that puts it down -40.61 from that peak though still a striking 58.67% gain since the share price plummeted to a 52-week low of $23.34. The company’s market capitalization is $41.42B, and the average trade volume was 11.41 million shares over the past three months.

Devon Energy Corporation (DVN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. DVN has a Sell rating from 1 analyst(s) out of 32 analysts who have looked at this stock. 11 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 17 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.14.

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Devon Energy Corporation (NYSE:DVN) trade information

Devon Energy Corporation (DVN) registered a -1.87% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.87% in intraday trading to $56.47 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -18.47%, and it has moved by -17.69% in 30 days. Based on these gigs, the overall price performance for the year is 107.75%.

The consensus price target of analysts on Wall Street is $82.29, which implies an increase of 31.38% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $65.00 and $103.00 respectively. As a result, DVN is trading at a discount of -82.4% off the target high and -15.11% off the low.

Devon Energy Corporation (DVN) estimates and forecasts

Statistics show that Devon Energy Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Devon Energy Corporation (DVN) shares have gone up 50.42% during the last six months, with a year-to-date growth rate more than the industry average at 157.79% against 26.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 256.70% this quarter and then jump 95.40% in the quarter after that. In the rating firms’ projections, revenue will increase 43.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.62 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $4.43 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.35 billion and $3.47 billion respectively. In this case, analysts expect current quarter sales to grow by 96.40% and then jump by 27.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 32.10%. While earnings are projected to return 161.70% in 2022, the next five years will return 21.88% per annum.

DVN Dividends

Devon Energy Corporation is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Devon Energy Corporation is 5.08, with the dividend yield indicating at 8.83 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.03%.

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

Devon Energy Corporation insiders own 0.79% of total outstanding shares while institutional holders control 86.31%, with the float percentage being 86.99%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,387 institutions own stock in it. As of Dec 30, 2021, the company held over 74.8 million shares (or 11.33% of all shares), a total value of $3.29 billion in shares.

The next largest institutional holding, with 54.98 million shares, is of Blackrock Inc.’s that is approximately 8.33% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $3.25 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Devon Energy Corporation (DVN) shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 19.23 million shares. This amounts to just over 2.91 percent of the company’s overall shares, with a $847.18 million market value. The same data shows that the other fund manager holds slightly less at 18.52 million, or about 2.81% of the stock, which is worth about $936.32 million.

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