Devon Energy Corp. (NYSE:DVN)’s traded shares stood at 5.58 million during the last session, with the company’s beta value hitting 2.20. At the close of trading, the stock’s price was $49.46, to imply an increase of 1.37% or $0.67 in intraday trading. The DVN share’s 52-week high remains $54.33, putting it -9.85% down since that peak but still an impressive 18.56% since price per share fell to its 52-week low of $40.28. The company has a valuation of $31.41B, with an average of 7.54 million shares in intraday trading volume over the past 10 days and average of 8.22 million shares over the past 3 months.
Devon Energy Corp. (NYSE:DVN) trade information
After registering a 1.37% upside in the last session, Devon Energy Corp. (DVN) has traded red over the past five days. The stock hit a weekly high of 49.47, jumping 1.37% in its intraday price action. The 5-day price performance for the stock is 1.75%, and 12.12% over 30 days. With these gigs, the year-to-date price performance is 9.69%. Short interest in Devon Energy Corp. (NYSE:DVN) saw shorts transact 16.51 million shares and set a 2.16 days time to cover.
Devon Energy Corp. (DVN) estimates and forecasts
Looking at statistics comparing Devon Energy Corp. share performance against respective industry, we note that the company has underperformed competitors. Devon Energy Corp. (DVN) shares are 7.22% up over the last 6 months, with its year-to-date growth rate lower than industry average at -15.41% against -2.00%. Revenue is forecast to shrink -27.40% this quarter before falling -0.80% for the next one. The rating firms project that company’s revenue will shrink -2.80% compared to the previous financial year.
Revenue forecast for the current quarter as set by 5 analysts is $3.55 billion. Meanwhile, for the quarter ending Jun 2024, a total of 5 analyst(s) estimate revenue growth to $3.72 billion.Earnings reports from the last fiscal year show that sales brought in $3.94 billion and $3.74 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -9.90% before dropping -0.40% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -1.04% for the past 5-year period. While 2024 is set for a -13.46% return in earnings, projections for the next 5 years are at -2.94% annually.
DVN Dividends
Devon Energy Corp. has its next earnings report out on May 01. 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 Corp. has a forward dividend ratio of 0.82, with the share yield ticking at 1.66% 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 Corp. (NYSE:DVN)’s Major holders
Devon Energy Corp. insiders hold 0.71% of total outstanding shares, with institutional holders owning 70.83% of the shares at 71.33% float percentage. In total, 70.83% institutions holds shares in the company, led by Vanguard Group Inc. As of Jun 29, 2023, the company held over 74.09 million shares (or 11.56% of shares), all amounting to roughly $3.58 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 51.95 million shares, or about 8.11% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $2.51 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 Corp. (DVN) shares. Going by data provided on Jun 29, 2023, Vanguard Total Stock Market Index Fund holds roughly 20.02 million shares. This is just over 3.12% of the total shares, with a market valuation of $967.75 million. Data from the same date shows that the other fund manager holds a little less at 17.47 million, or 2.73% of the shares, all valued at about 892.53 million.
