Devon Energy Corporation (NYSE:DVN) has a beta value of 2.44 and has seen 7.03 million shares traded in the last trading session. The company, currently valued at $41.38B, closed the last trade at $63.97 per share which meant it lost -$1.79 on the day or -2.72% during that session. The DVN stock price is -20.95% off its 52-week high price of $77.37 and 35.53% above the 52-week low of $41.24. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.81 million shares traded. The 3-month trading volume is 9.54 million shares.
The consensus among analysts is that Devon Energy Corporation (DVN) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 3 rate it as Overweight. 13 out of 32 have rated it as a Hold, with 15 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $2.13.
Devon Energy Corporation (NYSE:DVN) trade information
Sporting -2.72% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the DVN stock price touched $63.97 or saw a rise of 3.46%. Year-to-date, Devon Energy Corporation shares have moved 4.00%, while the 5-day performance has seen it change 0.76%. Over the past 30 days, the shares of Devon Energy Corporation (NYSE:DVN) have changed 3.58%. Short interest in the company has seen 19.32 million shares shorted with days to cover at 1.58.
Wall Street analysts have a consensus price target for the stock at $77.38, which means that the shares’ value could jump 17.33% from current levels. The projected low price target is $61.00 while the price target rests at a high of $96.00. In that case, then, we find that the current price level is -50.07% off the targeted high while a plunge would see the stock lose 4.64% from current levels.
Devon Energy Corporation (DVN) estimates and forecasts
Figures show that Devon Energy Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 14.70% over the past 6 months, with this year growth rate of 140.51%, compared to 21.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 97.20% and 64.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 62.20%.
6 analysts offering their estimates for the company have set an average revenue estimate of $4.91 billion for the current quarter. 6 have an estimated revenue figure of $5.27 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $3.47 billion and $4.27 billion respectively for this quarter and the next, and analysts expect sales will grow by 41.70% for the current quarter and 23.30% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 32.10% over the past 5 years. Earnings growth for 2023 is a modest 161.70% while over the next 5 years, the company’s earnings are expected to increase by 29.94%.
Devon Energy Corporation is expected to release its next earnings report between February 13 and February 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 5.17 at a share yield of 8.08%. The company’s dividend yield has gone up over the past 12 months.
Devon Energy Corporation (NYSE:DVN)’s Major holders
Insiders own 0.80% of the company shares, while shares held by institutions stand at 80.47% with a share float percentage of 81.12%. Investors are also buoyed by the number of investors in a company, with Devon Energy Corporation having a total of 1,541 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 75.54 million shares worth more than $4.16 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 11.54% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 54.42 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $3.0 billion and represent 8.31% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. As of Jun 29, 2022, the former fund manager holds about 2.97% shares in the company for having 19.43 million shares of worth $1.07 billion while later fund manager owns 18.88 million shares of worth $1.14 billion as of Sep 29, 2022, which makes it owner of about 2.88% of company’s outstanding stock.