Devon Energy Stock Beta
| DVN Stock | USD 38.70 0.40 1.04% |
Devon Energy fundamentals help investors to digest information that contributes to Devon Energy's financial success or failures. It also enables traders to predict the movement of Devon Stock. The fundamental analysis module provides a way to measure Devon Energy's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Devon Energy stock.
Devon | Beta |
Devon Energy Company Beta Analysis
Devon Energy's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Devon Energy Beta | 2.07 |
Most of Devon Energy's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Devon Energy is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Devon Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Devon Energy is extremely important. It helps to project a fair market value of Devon Stock properly, considering its historical fundamentals such as Beta. Since Devon Energy's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Devon Energy's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Devon Energy's interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Devon Energy has a Beta of 2.071. This is 21.82% higher than that of the Oil, Gas & Consumable Fuels sector and 34.48% higher than that of the Energy industry. The beta for all United States stocks is notably lower than that of the firm.
Devon Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Devon Energy's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Devon Energy could also be used in its relative valuation, which is a method of valuing Devon Energy by comparing valuation metrics of similar companies.Devon Energy is currently under evaluation in beta category among its peers.
Devon Energy ESG Sustainability
Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Devon Energy's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Devon Energy's managers, analysts, and investors.Environmental | Governance | Social |
Devon Energy Institutional Holders
Institutional Holdings refers to the ownership stake in Devon Energy that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Devon Energy's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Devon Energy's value.| Shares | Northern Trust Corp | 2024-09-30 | 6.1 M | Raymond James & Associates | 2024-09-30 | 6 M | Smead Capital Management Inc | 2024-09-30 | 5.9 M | Goldman Sachs Group Inc | 2024-06-30 | 5.7 M | D. E. Shaw & Co Lp | 2024-06-30 | 5.3 M | Thrivent Financial For Lutherans | 2024-09-30 | 5.1 M | Bank Of America Corp | 2024-06-30 | 5 M | Legal & General Group Plc | 2024-06-30 | 4.7 M | Bank Of New York Mellon Corp | 2024-06-30 | 4.7 M | Vanguard Group Inc | 2024-09-30 | 75.2 M | Blackrock Inc | 2024-06-30 | 48.9 M |
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Devon Energy will likely underperform.
Devon Fundamentals
| Return On Equity | 0.26 | ||||
| Return On Asset | 0.11 | ||||
| Profit Margin | 0.23 % | ||||
| Operating Margin | 0.32 % | ||||
| Current Valuation | 33.7 B | ||||
| Shares Outstanding | 656.9 M | ||||
| Shares Owned By Insiders | 0.73 % | ||||
| Shares Owned By Institutions | 73.86 % | ||||
| Number Of Shares Shorted | 18.94 M | ||||
| Price To Earning | 7.20 X | ||||
| Price To Book | 1.76 X | ||||
| Price To Sales | 1.73 X | ||||
| Revenue | 15.14 B | ||||
| Gross Profit | 11.33 B | ||||
| EBITDA | 7.48 B | ||||
| Net Income | 3.75 B | ||||
| Cash And Equivalents | 1.45 B | ||||
| Cash Per Share | 1.78 X | ||||
| Total Debt | 6.48 B | ||||
| Debt To Equity | 0.61 % | ||||
| Current Ratio | 1.16 X | ||||
| Book Value Per Share | 21.70 X | ||||
| Cash Flow From Operations | 6.54 B | ||||
| Short Ratio | 2.27 X | ||||
| Earnings Per Share | 5.40 X | ||||
| Price To Earnings To Growth | 14.90 X | ||||
| Target Price | 51.49 | ||||
| Number Of Employees | 1.9 K | ||||
| Beta | 2.07 | ||||
| Market Capitalization | 25.16 B | ||||
| Total Asset | 24.49 B | ||||
| Retained Earnings | 6.2 B | ||||
| Working Capital | 208 M | ||||
| Current Asset | 1.06 B | ||||
| Current Liabilities | 1.04 B | ||||
| Annual Yield | 0.04 % | ||||
| Five Year Return | 2.54 % | ||||
| Net Asset | 24.49 B | ||||
| Last Dividend Paid | 2.0 |
About Devon Energy Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Devon Energy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Devon Energy using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Devon Energy based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Devon Energy
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Devon Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Devon Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Devon Stock
Moving against Devon Stock
The ability to find closely correlated positions to Devon Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Devon Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Devon Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Devon Energy to buy it.
The correlation of Devon Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Devon Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Devon Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Devon Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Devon Energy Piotroski F Score and Devon Energy Altman Z Score analysis. To learn how to invest in Devon Stock, please use our How to Invest in Devon Energy guide.You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Is Oil & Gas Exploration & Production space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Devon Energy. If investors know Devon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Devon Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.09) | Dividend Share 2 | Earnings Share 5.4 | Revenue Per Share 23.117 | Quarterly Revenue Growth (0.10) |
The market value of Devon Energy is measured differently than its book value, which is the value of Devon that is recorded on the company's balance sheet. Investors also form their own opinion of Devon Energy's value that differs from its market value or its book value, called intrinsic value, which is Devon Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Devon Energy's market value can be influenced by many factors that don't directly affect Devon Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Devon Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Devon Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Devon Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.