In the latest trading session, 0.66 million Devon Energy Corp. (NYSE:DVN) shares changed hands as the company’s beta touched 2.07. With the company’s most recent per share price at $39.85 changed hands at -$0.32 or -0.78% at last look, the market valuation stands at $24.96B. DVN’s current price is a discount, trading about -37.09% off its 52-week high of $54.63. The share price had its 52-week low at $37.76, which suggests the last value was 5.24% up since then. When we look at Devon Energy Corp.’s average trading volume, we note the 10-day average is 8.17 million shares, with the 3-month average coming to 7.59 million.
Analysts gave the Devon Energy Corp. (DVN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.84. If we narrow down to specifics, the data shows that 0 out of 18 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended DVN as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Devon Energy Corp.’s EPS for the current quarter is expected to be 1.09.
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Devon Energy Corp. (NYSE:DVN) trade information
Instantly DVN was in red as seen in intraday trades today. With action -2.05%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -10.87%, with the 5-day performance at -2.05% in the red. However, in the 30-day time frame, Devon Energy Corp. (NYSE:DVN) is -2.82% down. Looking at the short shares, we see there were 22.79 million shares sold at short interest cover period of 2.79 days.
The consensus price target for the stock as assigned by Wall Street analysts is 57, meaning bulls need an upside of 30.09% from its recent market value. According to analyst projections, DVN’s forecast low is 35 with 91 as the target high. To hit the forecast high, the stock’s price needs a -128.36% plunge from its current level, while the stock would need to tank 12.17% for it to hit the projected low.
Devon Energy Corp. (DVN) estimates and forecasts
Data shows that the Devon Energy Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -22.86% over the past 6 months, a -12.78% in annual growth rate that is considerably lower than the industry average of -11.50%. Year-over-year growth is forecast to reach 2.10% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 3.74B. 7 analysts are of the opinion that Devon Energy Corp.’s revenue for the current quarter will be 4.19B. The estimates for the next quarter sales put growth at 1.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -1.04%. The 2024 estimates are for Devon Energy Corp. earnings to decrease by -14.71%, but the outlook for the next 5-year period is at 1.00% per year.
DVN Dividends
Devon Energy Corp. is expected to release its next quarterly earnings report on 2024-Nov-05. The 2.14% annual yield figure for the share gives it an annual dividend of 0.85. It is important to note, however, that the 2.14% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 4.93 per year.
Devon Energy Corp. (NYSE:DVN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.73% of Devon Energy Corp. shares while 70.51% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.03%. There are 70.51% institutions holding the Devon Energy Corp. stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 12.0362% of the shares, roughly 75.71 million DVN shares worth $3.59 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.7741% or 48.9 million shares worth $2.32 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 19.97 shares estimated at $796.72 million under it, the former controlled 3.19% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.66% of the shares, roughly 16.68 shares worth around $665.59 million.
