Devon Energy Corporation (NYSE: DVN) is 44.70% higher on its value in year-to-date trading and has touched a low of $5.11 and a high of $25.93 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The DVN stock was last observed hovering at around $22.36 in the last trading session, with the day’s gains setting it 0.34% off its average median price target of $29.00 for the next 12 months. It is also 45.95% off the consensus price target high of $42.00 offered by 33 analysts, but current levels are -33.53% lower than the price target low of $17.00 for the same period.
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Currently trading at $22.70, the stock is -0.95% and 11.82% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 18.01 million and changing 1.52% at the moment leaves the stock 65.41% off its SMA200. DVN registered 256.67% gain for a year compared to 6-month gain of 129.91%. The firm has a 50-day simple moving average (SMA 50) of $21.51 and a 200-day simple moving average (SMA200) of $15.08.
The stock witnessed a 11.37% loss in the last 1 month and extending the period to 3 months gives it a 43.79%, and is -6.39% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.79% over the week and 5.44% over the month.
Devon Energy Corporation (DVN) has around 1400 employees, a market worth around $15.05B and $4.83B in sales. Fwd P/E is 9.51. Profit margin for the company is -55.60%. Distance from 52-week low is 344.14% and -12.45% from its 52-week high. The company has generated returns on investments over the last 12 months (-31.00%).
Devon Energy Corporation (DVN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Devon Energy Corporation (DVN) is a “Buy”. 33 analysts offering their recommendations for the stock have an average rating of 1.80, where 5 rate it as a Hold and 3 think it is a “Overweight”. 25 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Devon Energy Corporation is expected to release its quarterly report on 05/04/2021 and quarterly earnings per share for the current quarter are estimated at $0.3 with sales reaching $2.2B over the same period.The EPS is expected to grow by 1977.80% this year, but quarterly earnings will post 93.90% year-over-year. Quarterly sales are estimated to grow 5.20% in year-over-year returns.
Devon Energy Corporation (DVN) Top Institutional Holders
676 institutions hold shares in Devon Energy Corporation (DVN), with 4.27M shares held by insiders accounting for 0.63% while institutional investors hold 84.70% of the company’s shares. The shares outstanding are 673.11M, and float is at 624.71M with Short Float at 1.87%. Institutions hold 84.16% of the Float.
The top institutional shareholder in the company is EnCap Energy Capital Fund X, L.P. with over 78.98 million shares valued at $1.25 billion. The investor’s holdings represent 11.73% of the DVN Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 65.44 million shares valued at $1.03 billion to account for 9.72% of the shares outstanding. The other top investors are Blackrock Inc. which holds 42.16 million shares representing 6.26% and valued at over $666.51 million, while State Street Corporation holds 4.65% of the shares totaling 31.29 million with a market value of $494.73 million.
Devon Energy Corporation (DVN) Insider Activity
A total of 106 insider transactions have happened at Devon Energy Corporation (DVN) in the last six months, with sales accounting for 44 and purchases happening 62 times. The most recent transaction is an insider sale by KINDICK KELT, the company’s Director. SEC filings show that KINDICK KELT sold 23,242 shares of the company’s common stock on Mar 10 at a price of $23.83 per share for a total of $0.55 million. Following the sale, the insider now owns 51639.0 shares.
Devon Energy Corporation disclosed in a document filed with the SEC on Feb 22 that Felix Investments Holdings II, (Director) sold a total of 29,579,389 shares of the company’s common stock. The trade occurred on Feb 22 and was made at $21.05 per share for $622.65 million. Following the transaction, the insider now directly holds 59.16 million shares of the DVN stock.
Still, SEC filings show that on Dec 01, Humphers Jeremy D. (SVP-Chief Accounting Officer) disposed off 1,500 shares at an average price of $14.12 for $21180.0. The insider now directly holds 49,112 shares of Devon Energy Corporation (DVN).
Devon Energy Corporation (DVN): Who are the competitors?
The company’s main competitors (and peers) include EOG Resources Inc. (EOG) that is trading 110.96% up over the past 12 months and Marathon Oil Corporation (MRO) that is 187.73% higher over the same period. Pioneer Natural Resources Company (PXD) is 170.80% up on the 1-year trading charts. Short interest in the company’s stock has fallen -27.84% from the last report on Jan 28, 2021 to stand at a total of 14.97 million short shares sold with a short interest ratio of 0.97.