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Devon Energy Corporation (NYSE: DVN) Has Decreased By -7.28 Percent This Year. Is It A Better Buy Than Others?

Devon Energy Corporation (NYSE:DVN)’s traded shares stood at 28.27 million during the last session, with the company’s beta value hitting 2.39. At the close of trading, the stock’s price was $46.15, to imply a decrease of -0.26% or -$0.12 in intraday trading. The DVN share’s 52-week high remains $76.30, putting it -65.33% down since that peak but still an impressive 4.59% since price per share fell to its 52-week low of $44.03. The company has a valuation of $30.89B, with an average of 12.48 million shares in intraday trading volume over the past 10 days and average of 10.03 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Devon Energy Corporation (DVN), translating to a mean rating of 2.20. Of 32 analyst(s) looking at the stock, 0 analyst(s) give DVN a Sell rating. 2 of those analysts rate the stock as Overweight while 13 advise Hold as 16 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.76.

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Devon Energy Corporation (NYSE:DVN) trade information

After registering a -0.26% downside in the last session, Devon Energy Corporation (DVN) has traded red over the past five days. The stock hit a weekly high of 51.07 this Friday, 03/17/23, dropping -0.26% in its intraday price action. The 5-day price performance for the stock is -9.59%, and -18.23% over 30 days. With these gigs, the year-to-date price performance is -23.92%. Short interest in Devon Energy Corporation (NYSE:DVN) saw shorts transact 11.44 million shares and set a 1.56 days time to cover.

Analysts on Wall Street suggest a consensus price target of $69.28, implying an increase of 33.39% to the stock’s current value. The extremes give us $52.00 and $87.00 for target low and target high price respectively. As such, DVN has been trading -88.52% off suggested target high and -12.68% from its likely low.

Devon Energy Corporation (DVN) estimates and forecasts

Looking at statistics comparing Devon Energy Corporation share performance against respective industry, we note that the company has underperformed competitors. Devon Energy Corporation (DVN) shares are -31.38% down over the last 6 months, with its year-to-date growth rate lower than industry average at -16.13% against -10.10%. Revenue is forecast to grow 26.60% this quarter before falling -3.70% for the next one. The rating firms project that company’s revenue will grow 59.10% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $4.46 billion. Meanwhile, for the quarter ending Mar 2023, a total of 6 analyst(s) estimate revenue growth to $4.26 billion.Earnings reports from the last fiscal year show that sales brought in $4.27 billion and $3.81 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 4.30% before jumping 11.80% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 94.00% for the past 5-year period. While 2023 is set for a 118.00% return in earnings, projections for the next 5 years are at -5.12% annually.

DVN Dividends

Devon Energy Corporation has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Devon Energy Corporation has a forward dividend ratio of 4.37, with the share yield ticking at 9.47% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Devon Energy Corporation insiders hold 0.78% of total outstanding shares, with institutional holders owning 80.86% of the shares at 81.49% float percentage. In total, 80.86% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 77.17 million shares (or 11.81% of shares), all amounting to roughly $4.64 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 57.29 million shares, or about 8.76% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $3.45 billion.

We also have Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select as the top two Mutual Funds with the largest holdings of the Devon Energy Corporation (DVN) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 19.53 million shares. This is just over 2.99% of the total shares, with a market valuation of $1.17 billion. Data from the same date shows that the other fund manager holds a little less at 18.91 million, or 2.89% of the shares, all valued at about 1.16 billion.

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