Devon Energy stock: buy or sell

DVN stock price: $19.57 -3.50% At close on Jan 15th, 2021

Updated on:
Jan 18th, 2021

2

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

Devon Energy analysts' ratings - Last month
Brokerage firmRating
Dec 23rd, 2020
Truist Neutral
Jan 13th, 2021
Siebert Williams Shank Strong buy
Jan 14th, 2021
Barclays BuyBuy

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

SMAs overview

DVN stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $19.74 (0.87% above)
  • R2: $19.78 (1.07% above)
  • R3: $19.91 (1.74% above)
  • The current support levels are:

  • S1: $18.92 (-3.32% below)
  • S2: $18.49 (-5.52% below)
  • S3: $18.30 (-6.49% below)
  • Bollinger bands

    Since the price surpassed the upper band last Thursday, the price dropped by 5.78%

    DVN stock Bollinger Bands chart

    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

    DVN stock RSI chart

    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

    DVN stock price history chart

    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.

    Devon Energy stock price predictions
    Brokerage firmPrice 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

    DVN performance compared
    Company1m3m6m
    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
    Open$19.9
    Close$19.57
    Day range$18.99 - $19.94
    Previous close$20.28
    Session gain-3.50%
    Average true range$1.30
    50d mov avg$14.97
    100d mov avg$12.20
    200d mov avg$11.50
    Earnings dateFebruary 16th, 2021

    Frequently asked questions

    What is Devon Energy stock symbol?

    Devon Energy Corporation is a public company trading in the US stock market with the DVN symbol

    Is Devon Energy stock a buy or sell?

    Devon Energy received 3 ratings in the last 30 days: 2 bullish, 0 bearish and 1 neutral.

    Will DVN go up?

    Devon Energy had different price predictions published by market analysts in the last 30 days forecasting the target price to $76.33. That is a 290.04% than the last price ($19.57).