The trading price of Devon Energy Corp. (NYSE:DVN) floating higher at last check on current market day and closing at $42.87, 1.05% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $42.33 and $43.0288. The company’s P/E ratio in the trailing 12-month period was 7.77, while its 5Y monthly beta was 2.061. In examining the 52-week price action we see that the stock hit a 52-week high of $54.63 and a 52-week low of $37.76. Over the past month, the stock has gained 4.26% in value.
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Devon Energy Corp., whose market valuation is $26.84 billion at the time of this writing, is expected to release its quarterly earnings report on 2024-Nov-05. The dividend yield on the company stock is 2.01%, while its Forward Dividend ratio is 0.86. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 1.15 per share this quarter, however they have predicted annual earnings per share of 5.14 for current year and 5.34 for next year.
Analysts have forecast the company to bring in revenue of 3.81B for the current quarter, with the likely lows of 3.67B and highs of 4.06B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 15.39B.
On the technical side, indicators suggest DVN has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned DVN a recommendation rating is 18. Out of them, 4 rate it a Hold, while 13 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Devon Energy Corp. (DVN) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 5.18, which symbolizes a positive outlook. A quick review shows that DVN’s price is currently 6.54% off the SMA20 and 0.79% off the SMA50. The RSI metric on the 14-day chart is currently showing 59.33, and weekly volatility stands at 2.70%. When measured over the past 30 days, the indicator reaches 2.58%. Devon Energy Corp. (NYSE:DVN)’s beta value is currently sitting at 2.06, while the Average True Range indicator is currently displaying 1.09. With analysts defining $35-$91 as the low and high price targets, we arrive at a consensus price target of $57 for the trailing 12-month period. The current price is about 18.36% off the estimated low and -112.27% off the forecast high, based on this estimate. Investors will be thrilled if DVN’s share price rises to $57, which is the median consensus price. At that level, DVN’s share price would be -32.96% below current price.
To see how Devon Energy Corp. stock has been performing today in comparison to its peers in the industry, here are the numbers: DVN stock’s performance was 1.05% at last check in today’s session, and 2.67% in the past year. Devon Energy Corp. has a P/E ratio of 7.77.
An evaluation of the daily trading volume of Devon Energy Corp. (NYSE:DVN) indicates that the 3-month average is 7.31 million. However, this figure has increased over the past 10 days to an average of 10.18.
Currently, records show that 635.70 million of the company’s shares remain outstanding. The insiders hold 0.76% of outstanding shares, whereas institutions hold 74.04%. The stats also highlight that short interest as of 2024-09-13, stood at 19.2 million shares, resulting in a short ratio of 3.2 at that time. From this, we can conclude that short interest is 351.00 of the company’s total outstanding shares. It is noteworthy that short shares in September were up slightly from the previous month’s figure, which was 16.5 million. However, since the stock’s price has seen -4.14% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
