Devon Energy Corp. (NYSE: DVN) Stock Could Reward Investors With A Loss Of -125.71%

In the last trading session, 8.01 million shares of the Devon Energy Corp. (NYSE:DVN) were traded, and its beta was 2.20. Most recently the company’s share price was $50.95, and it changed around $0.77 or 1.53% from the last close, which brings the market valuation of the company to $32.35B. DVN currently trades at a discount to its 52-week high of $54.33, offering almost -6.63% off that amount. The share price’s 52-week low was $40.28, which indicates that the current value has risen by an impressive 20.94% since then. We note from Devon Energy Corp.’s average daily trading volume that its 10-day average is 7.56 million shares, with the 3-month average coming to 8.20 million.

Devon Energy Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.76. If we narrow it down even further, the data shows that 0 out of 32 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 9 recommended DVN as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. Devon Energy Corp. is expected to report earnings per share of $1.06 for the current quarter.

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Devon Energy Corp. (NYSE:DVN) trade information

Instantly DVN has showed a green trend with a performance of 1.53% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 13.00% year-to-date, but still up 5.33% over the last five days. On the other hand, Devon Energy Corp. (NYSE:DVN) is 16.18% up in the 30-day period. We can see from the shorts that 16.56 million shares have been sold at a short interest cover period of 1.91 day(s).

The consensus price target as assigned by Wall Street analysts is $66.96, which translates to bulls needing to increase their stock price by 23.91% from its current value. Analyst projections state that DVN is forecast to be at a low of $35 and a high of $115.

Devon Energy Corp. (DVN) estimates and forecasts

Devon Energy Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 6.24 percent over the past six months and at a -15.41% annual growth rate that is well below the industry average of -3.80%. The year-over-year growth rate is expected to be -2.80%, down from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $3.55 billion in revenue for the current quarter. 5 analysts expect Devon Energy Corp. to make $3.72 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.94 billion and $3.74 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -9.90%. Forecasts for the next quarter put sales growth at -0.40%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -1.04%. Devon Energy Corp. earnings are expected to increase by -14.04% in 2024, but the outlook is negative -2.94% per year for the next five years.

DVN Dividends

Devon Energy Corp.’s next quarterly earnings report is expected to be released on May 01. The annual dividend yield of the stock is 1.59 percent and its annual dividend per share was 0.81. It is important to note, however, that the 1.59% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Devon Energy Corp. (NYSE:DVN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.71% of Devon Energy Corp. shares, and 70.83% of them are in the hands of institutional investors. The stock currently has a share float of 71.33%. Devon Energy Corp. stock is held by 1,572 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.56% of the shares, which is about 74.09 million shares worth $3.58 billion.

Blackrock Inc., with 8.11% or 51.95 million shares worth $2.51 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Jun 29, 2023. The former held 20.02 million shares worth $967.75 million, making up 3.12% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 17.47 million shares worth around $892.53 million, which represents about 2.73% of the total shares outstanding.