Saturday, 17 November, 2018

Devon Energy (DVN) Getting Somewhat Positive News Coverage, Study Shows

Jean Garcia | 17 May, 2018, 11:29

Devon Energy Corporation (DVN) recently closed with rise of 12.29% to its 20-Day Simple Moving Average. The NYSE-listed company saw a recent bid of $8.68 on volume of 2,612,826 shares. At the time of writing, the 14-day ADX for Devon Energy Corporation (NYSE:DVN) is standing at 36.31.

Several other institutional investors and hedge funds have also made changes to their positions in the company. This is an increase from Devon Energy's previous quarterly dividend of $0.06. Crossmark Global Holdings Inc. now owns 56,676 shares of the energy company's stock worth $2,346,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in Devon Energy by 25.9% during the fourth quarter. The price earnings ratio (P/E) ratio helps investors analyze how much they should pay for a stock based on its current earnings. Relative Volume (or RVOL) is a volume indicator, meaning it assists measure shareholder interest in a stock. Dupont Capital Management Corp grew its stake in Devon Energy by 48.5% in the 1st quarter. The stock has a beta value of 2.21. HL Financial Services LLC increased its holdings in Devon Energy by 27.0% during the first quarter. The share price was last seen -2.31% lower, reaching at $6.77 on 05/15/2018. Insiders ownership held at 0.40%. The analysts, on average, are forecasting a $46.75 price target, but the stock is already up 43.36% from its recent lows. Currently, this public company's quick ratio is 1.00, its debt-to-equity ratio is 1.12, and its current ratio is 1.00. Credit Suisse Group set a $50.00 price objective on shares of Devon Energy and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Royal Bank of Canada reiterated a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research note on Friday, April 13th. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. Finally, Cowen set a $51.00 target price on shares of Devon Energy and gave the company a "buy" rating in a research note on Thursday, January 18th. Likewise, when prices dropped rapidly and therefore momentum was low enough, the financial instrument would at some point be considered oversold presenting a possible buying opportunity.

Shares of Devon Energy traded up $0.17, reaching $41.45, during midday trading on Wednesday, Marketbeat Ratings reports. Overall, 10.41 Million shares exchanged hands versus its average trading volume of 9.03 Million shares. DVN generated revenue of $3.66 Billion in the same quarter, one year ago. According to these analysts, the Low Revenue Estimate for Devon Energy Corporation is 3.42 Billion and the High Revenue Estimate is 4.19 Billion.

ROA ratio indicates how profitable a company is relative to its total assets. In the last five years, the company's full-year sales growth remained over -16.90% a year on average and the company's earnings per share moved by an average rate of -0.27. As a result, the company has an (Earning per Share) EPS growth of 30.94% for the coming year. Looking at the big picture from the data above, the average analyst rating for Devon Energy Corporation is 2.00. Over the past 7 days, Devon Energy Corporation (NYSE:DVN) stock has increased in price by 5.79%. Covering brokerage analysts are estimating company growth for next year to be 55.56%.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.78%.

Taking a look at another technical level, Devon Energy Corporation (NYSE:DVN) presently has a 14-day Commodity Channel Index (CCI) of 107.99. The ex-dividend date is Thursday, June 14th.

Devon Energy declared that its board has approved a share repurchase program on Wednesday, March 7th that allows the company to buyback $1.00 billion in shares. Diamond Hill Capital Management Inc. now owns 7,885,465 shares of the energy company's stock valued at $250,679,000 after buying an additional 4,320,329 shares during the period. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Intraday Trading of the Devon Energy Corporation: Devon Energy Corporation, a United States of America based Company, belongs to Basic Materials sector and Independent Oil & Gas industry. It operates approximately 15,200 gross wells.The P/E ratio is 24.09. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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