Why Should You Put Devon Energy Corp. (NYSE: DVN) On Your Portfolio?

Currently, there are 635.70M common shares owned by the public and among those 630.38M shares have been available to trade.

The company’s stock has a 5-day price change of 5.33% and 11.86% over the past three months. DVN shares are trading 13.00% year to date (YTD), with the 12-month market performance up to 5.84% higher. It has a 12-month low price of $40.28 and touched a high of $54.33 over the same period. DVN has an average intraday trading volume of 8.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.89%, 15.15%, and 10.09% respectively.

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Institutional ownership of Devon Energy Corp. (NYSE: DVN) shares accounts for 70.96% of the company’s 635.70M shares outstanding.

It has a market capitalization of $32.35B and a beta (3y monthly) value of 2.20. The stock’s trailing 12-month PE ratio is 8.74, while the earnings-per-share (ttm) stands at $5.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.50% over the week and 1.59% over the month.

Analysts forecast that Devon Energy Corp. (DVN) will achieve an EPS of $1.06 for the current quarter, $1.18 for the next quarter and $5.48 for 2025. The lowest estimate earnings-per-share for the quarter is $0.87 while analysts give the company a high EPS estimate of $1.18. Comparatively, EPS for the current quarter was $1.46 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.04%, and 7.42% over the next financial year. EPS should shrink at an annualized rate of -2.94% over the next five years, compared to -1.04% over the past 5-year period.

Looking at the support for the DVN, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on Apr-02-24, with the firm’s price target at $46-$59. Morgan Stanley coverage for the Devon Energy Corp. (DVN) stock in a research note released on December 11, 2023 offered a Overweight rating with a price target of $52. Bernstein on their part issued Mkt Perform rating on October 17, 2023.

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