In today’s recent session, 1.1 million shares of the Devon Energy Corp. (NYSE:DVN) have been traded, and its beta is 2.06. Most recently the company’s share price was $41.40, and it changed around -$0.28 or -0.68% from the last close, which brings the market valuation of the company to $25.92B. DVN at last check was trading at a discount to its 52-week high of $54.63, offering almost -31.96% off that amount. The share price’s 52-week low was $37.76, which indicates that the recent value has risen by an impressive 8.79% since then. We note from Devon Energy Corp.’s average daily trading volume that its 10-day average is 10.35 million shares, with the 3-month average coming to 7.27 million.
Devon Energy Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.84. 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 1.15 for the current quarter.
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Devon Energy Corp. (NYSE:DVN) trade information
Instantly DVN has been showing red trend so far today with a performance of -0.68% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 43.03 on recent trading dayincreased the stock’s daily price by 3.79%. The company’s shares are currently down -7.42% year-to-date, but still up 2.21% over the last five days. On the other hand, Devon Energy Corp. (NYSE:DVN) is 3.46% up in the 30-day period. We can see from the shorts that 19.2 million shares have been sold at a short interest cover period of 3.2 day(s).
The consensus price target as assigned by Wall Street analysts is $57, which translates to bulls needing to increase their stock price by 27.37% from its current value. Analyst projections state that DVN is forecast to be at a low of $35 and a high of $91.
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 fallen -23.42 percent over the past six months and at a -12.96% annual growth rate that is well below the industry average of -11.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -30.30% in revenue this quarter, and will report a decrease of -10.60% in the next quarter. The year-over-year growth rate is expected to be 0.80%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 3.78B in revenue for the current quarter. 3 analysts expect Devon Energy Corp. to make 4.16B in revenue for the current ending quarter. 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 -13.37% in 2024, but the outlook is positive 1.50% per year for the next five years.
DVN Dividends
Devon Energy Corp.’s next quarterly earnings report is expected to be released on 2024-Nov-05. The annual dividend yield of the stock is 2.08 percent and its annual dividend per share was 0.86. It is important to note, however, that the 2.08% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 4.93 per year.
Devon Energy Corp. (NYSE:DVN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.73% of Devon Energy Corp. shares, and 70.97% of them are in the hands of institutional investors. The stock currently has a share float of 71.49%. Devon Energy Corp. stock is held by 1559.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 12.0362% of the shares, which is about 75.71 million shares worth $3.59 billion.
BLACKROCK INC., with 7.7741% or 48.9 million shares worth $2.32 billion as of 2024-06-30, 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 30, 2024. The former held 19.97 shares worth $830.91 million, making up 3.19% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 17.21 shares worth around $716.13 million, which represents about 2.75% of the total shares outstanding.
