Devon Energy stock: buy or sell
Jan 18th, 2021
Devon Energy stock brief
- Devon Energy stock sank -3.50% to close at $19.57 on the stock market last Friday.
- Price is drawing a scaled uptrend since last October with higher tops and higher bottoms. This rally marked a 154.82% gain
- Barclays posted a buy rating for Devon Energy last Thursday, with a forecast of $22.00
- Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
Should I buy Devon Energy stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $DVN stock a buy?
In the current situation of Devon Energy there is not any eligible buy setup. This doesn't mean we expect a selloff for $DVN in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Should I sell Devon Energy stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Much like when we have to buy shares, determining when is appropiate time to sell is not a capricious decision, and we must follow our own trading style. When selling, as well as buying, our setups are very simple to use but are only valid for selling stocks in your porfolio, not for shorting $DVN stock
A golden rule is that you should never hold an open trade that yields losses greater than those expected at the time of purchase. The timing to sell shares should always be dictated by the stop-loss (automatic or manual)
Is it time to sell Devon Energy stock?
Currently, Devon Energy stock doesn't match any of our preferred sell setups, so if you own Devon Energy stock and your operation is in profit probably is not time to sell now
Devon Energy ratings
In the last 30 days, 3 analyst ratings were published for Devon Energy. General sentiment is bullish, with 2 out of 3 posting optimistic outlooks
|Dec 23rd, 2020|
|Jan 13th, 2021|
|Siebert Williams Shank|| |
|Jan 14th, 2021|
|Barclays||Buy → Buy|
Devon Energy stock analysis
Since last October, Devon Energy has been drawing an uptrend that by now marked an amazing 154.82%. The chart shows rising peaks and troughs, and along the way provided very few entry points for those who wanted to trade in. Latest pullback was in mid-December, when price bounced at $14.34. Like in all uptrends, price needs to take breath and now price is moving in a range between $20.77 and $14.34
Supports and resistances
The current resistances are:
The current support levels are:
Since the price surpassed the upper band last Thursday, the price dropped by 5.78%
Relative strength index
After crossing up the line of 70 yesterday, fell back below with a reading of 66.85. This is a weak signal for the Devon Energy shares and it must tip us off of weakness in the stock price
Devon Energy stock price history
Devon Energy went public priced at an adjusted price1 of $0.00 on Jul 1985. Since then, DVN stock surged by -, with an average of 0.00% per year. If you had invested thousand dollars in Devon Energy stock at that time, it would have a value of $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Devon Energy stock
How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations issue their analysis predicting how a particular stock will performance in the future.
Along with buy or sell recommendations, financial institutions post their price forecasts based on the stock price action and the company fundamental data. Most of these forecasts follow the publication of new financial information by the company, and many times. If you are a small trader you shouldn't invest based on these price targets.
There are 3 price forecasts released for Devon Energy that average $76.33. Devon Energy closed at $19.57 last Friday, that is a 74.36% than the target price.
|Brokerage firm||Price target|
|Dec 23rd, 2020|
|Truist||$14.00 → $190.00|
|Jan 13th, 2021|
|Siebert Williams Shank||$17.00|
|Jan 14th, 2021|
|Barclays||$20.00 → $22.00|
Earnings and financials
Last October, Devon Energy Corporation ($DVN) posted adjusted EPS for that strongly improved Wall St. expectations. Quarterly EPS was $-0.07 per share from an estimated $-0.12. This quarterly report represents an earnings surprise of 41.67%. Estimated revenue was $1.0 billion but Devon Energy slightly beat by 4.61%, reporting $1.1 billion.By comparison, the EPS for the same quarter last year was $0.29, so reported EPS means a loss of -124.14%. Sales collapsed a -37.77% on an annualized basis in the , from $17.9B to $11.1B last quarter.
Devon Energy ($DVN) presents earnings report mid next February. Wall Street analysts expect of $0.02, that is a 128.57% more than previous quarter.
Devon Energy performance
|Devon Energy ($DVN)||22.80%||110.20%||98.70%|
Disclaimer:The comments expressed in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not know the specific situations of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for educative motives only
Devon Energy summary
|Friday, January 15th, 2021|
|Day range||$18.99 - $19.94|
|Average true range||$1.30|
|50d mov avg||$14.97|
|100d mov avg||$12.20|
|200d mov avg||$11.50|
|Earnings date||February 16th, 2021|