Are analysts optimistic about Devon Energy Corporation’s (NYSE:DVN) stock?

Devon Energy Corporation (NYSE: DVN) closed the day trading at 63.12 down -2.11% from the previous closing price of $64.48. In other words, the price has decreased by $-1.36 from its previous closing price. On the day, 8886334 shares were traded. DVN reached its highest trading level at $66.10 during the session, while it also had its lowest trading level at $63.05.

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Ratios:

For a better understanding of DVN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 12.43 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.27. For the most recent quarter (mrq), Quick Ratio is recorded 1.60 and its Current Ratio is at 1.60. In the meantime, Its Debt-to-Equity ratio is 0.67 whereas as Long-Term Debt/Eq ratio is at 0.66.

Upgrades & Downgrades

On June 07, 2022, Evercore ISI Downgraded its rating to In-line which previously was Outperform but kept the price unchanged to $80.

Barclays Downgraded its Overweight to Equal Weight on May 25, 2022, while the target price for the stock was maintained at $73.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jul 05 when CAMERON DENNIS C sold 4,537 shares for $53.55 per share. The transaction valued at 242,956 led to the insider holds 270,269 shares of the business.

Williams Valerie sold 7,000 shares of DVN for $487,690 on Jun 14. The Director now owns 29,649 shares after completing the transaction at $69.67 per share. On Jun 13, another insider, Fox Ann G, who serves as the Director of the company, sold 2,150 shares for $70.27 each. As a result, the insider received 151,080 and left with 26,858 shares of the company.

Valuation Measures:

As of this moment, Devon’s Price-to-Earnings (P/E) ratio for their current fiscal year is 8.00, and their Forward P/E ratio for the next fiscal year is 6.24. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.22. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.50 while its Price-to-Book (P/B) ratio in mrq is 4.08.

Stock Price History:

Over the past 52 weeks, DVN has reached a high of $77.82, while it has fallen to a 52-week low of $28.16. The 50-Day Moving Average of the stock is 64.04, while the 200-Day Moving Average is calculated to be 58.97.

Shares Statistics:

Over the past 3-months, DVN traded about 12.43M shares per day on average, while over the past 10 days, DVN traded about 12.28M shares per day. A total of 652.00M shares are outstanding, with a floating share count of 646.51M. Insiders hold about 0.50% of the company’s shares, while institutions hold 80.20% stake in the company. Shares short for DVN as of Jul 14, 2022 were 14.45M with a Short Ratio of 1.35, compared to 15.49M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.19% and a Short% of Float of 2.49%.

Dividends & Splits

DVN’s forward annual dividend rate is 4.66, up from 0.42 a year ago. Against a Trailing Annual Dividend Yield of 0.65%, it implies a Forward Annual Dividend Yield of 8.08%. The stock’s 5-year Average Dividend Yield is 2.25. The current Payout Ratio is 49.40% for DVN, which recently paid a dividend on Sep 29, 2022 with an ex-dividend date of Jun 09, 2022. Stock splits for the company last occurred on Nov 15, 2004 when the company split stock in a 2:1 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 23 analysts. On average, analysts expect EPS of $2.38 for the current quarter, with a high estimate of $2.54 and a low estimate of $2.29, while EPS last year was $0.6. The consensus estimate for the next quarter is $2.45, with high estimates of $3.18 and low estimates of $1.91.

Analysts are recommending an EPS of between $10.55 and $7.92 for the fiscal current year, implying an average EPS of $8.98. EPS for the following year is $9.39, with 28 analysts recommending between $14.85 and $6.12.

Revenue Estimates

5 analysts predict $4.72B in revenue for the current quarter. It ranges from a high estimate of $4.8B to a low estimate of $4.62B. As of the current estimate, Devon Energy Corporation’s year-ago sales were $2.35B, an estimated increase of 100.50% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $4.86B, an increase of 40.30% less than the figure of $100.50% in the same quarter last year. There is a high estimate of $5.58B for the next quarter, whereas the lowest estimate is $4.61B.

A total of 6 analysts have provided revenue estimates for DVN’s current fiscal year. The highest revenue estimate was $19.49B, while the lowest revenue estimate was $17.84B, resulting in an average revenue estimate of $18.35B. In the same quarter a year ago, actual revenue was $12.21B, up 50.30% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $18.56B in the next fiscal year. The high estimate is $19.33B and the low estimate is $18.21B. The average revenue growth estimate for next year is up 1.20% from the average revenue estimate for this year.