Devon Energy Corporation (NYSE: DVN): The Stock For Success Over The Next Few Months

In the latest trading session, 2.41 million Devon Energy Corporation (NYSE:DVN) shares changed hands as the company’s beta touched 2.59. With the company’s most recent per share price at $57.20 changed hands at -$0.77 or -1.33% at last look, the market valuation stands at $38.96B. DVN’s current price is a discount, trading about -38.81% off its 52-week high of $79.40. The share price had its 52-week low at $23.74, which suggests the last value was 58.5% up since then. When we look at Devon Energy Corporation’s average trading volume, we note the 10-day average is 8.93 million shares, with the 3-month average coming to 12.63 million.

Analysts gave the Devon Energy Corporation (DVN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 1 out of 33 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 12 recommended DVN as a Hold, 17 felt it is a Buy and 0 rated the stock as Underweight. Devon Energy Corporation’s EPS for the current quarter is expected to be $2.37.

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Instantly DVN was in red as seen in intraday trades today. With action 6.13%, the performance over the past five days has been green. The drop to weekly highs of 59.17 on Monday, 07/25/22 subtracted -1.33% to the stock’s daily price. The company’s shares are showing year-to-date upside of 31.60%, with the 5-day performance at 6.13% in the green. However, in the 30-day time frame, Devon Energy Corporation (NYSE:DVN) is 5.90% up. Looking at the short shares, we see there were 13.72 million shares sold at short interest cover period of 0.91 days.

The consensus price target for the stock as assigned by Wall Street analysts is $78.31, meaning bulls need an upside of 26.96% from its recent market value. According to analyst projections, DVN’s forecast low is $57.90 with $115.00 as the target high. To hit the forecast high, the stock’s price needs a -101.05% plunge from its current level, while the stock would need to soar -1.22% for it to hit the projected low.

Devon Energy Corporation (DVN) estimates and forecasts

Data shows that the Devon Energy Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 25.69% over the past 6 months, a 157.51% in annual growth rate that is considerably higher than the industry average of 29.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Devon Energy Corporation will rise 295.00%, while the growth in revenue is estimated to hit 130.60% for the next quarter. Year-over-year growth is forecast to reach 51.50% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $4.72 billion. 5 analysts are of the opinion that Devon Energy Corporation’s revenue for the quarter ending Sep 2022 will be $4.94 billion. The company’s revenue for the corresponding quarters a year ago was $2.35 billion and $3.47 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 100.60%. The estimates for the next quarter sales put growth at 42.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 32.10%. The 2022 estimates are for Devon Energy Corporation earnings to increase by 161.70%, but the outlook for the next 5-year period is at 27.50% per year.

DVN Dividends

Devon Energy Corporation is expected to release its next quarterly earnings report on August 01. The 6.21% annual yield figure for the share gives it an annual dividend of 3.60. It is important to note, however, that the 6.21% 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.

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

If we look at who the major shareholders are, we find that insiders hold 0.79% of Devon Energy Corporation shares while 84.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.46%. There are 84.79% institutions holding the Devon Energy Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2022, the company held 11.42% of the shares, roughly 75.34 million DVN shares worth $4.32 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.33% or 54.98 million shares worth $3.15 billion as of Mar 30, 2022.

Among Mutual Funds, the top two as of Mar 30, 2022 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 19.16 million shares estimated at $1.1 billion under it, the former controlled 2.90% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.60% of the shares, roughly 17.17 million shares worth around $984.33 million.

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