Devon Energy: Strongest S&P 500 Stock Now
Mar. 10, 2022 7:40 PMDVN
Summary
100% technical buy signals.
9 new highs and up 13.09% in the last month.
147.34% gain in the last year.
Consensus price target $60.40 with a high target of $78.00.
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The Chart of the Day belongs to the oil & gas exploration company Devon Energy (NYSE:DVN). I found the stock by sorting the S&P 500 Index stocks by the highest Weighted Alpha then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 1/3 the stock gained 29.34%.
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DVN Price vs Daily Moving Averages
Devon Energy Corp., an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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Barchart Technical Indicators:
100% technical buy signals
161.80+ Weighted Alpha
147.34% gain in the last year
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 13.09% in the last month
Relative Strength Index 63.96%
Technical support level at 56.75
Recently traded at $58.99 with a 50-day moving average of $51.82
Devon stock rating.
Fundamental Factors:
Market Cap $39.51 billion
P/E 17.01
Dividend yield .73%
Revenue expected to grow 18.50% this year
Earnings estimated to increase 72.80% this year and continue to compound at an annual rate of 10.72% for the next 5 years
Analysts and Investor sentiment - I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
Wall Street analysts issued 18 strong buy, 6 buy, 7 hold and 1 under perform recommendations on the stock
Consensus price target at 85.18 with a high target of 78.00
The individual investors following the stock on Motley Fool voted 2,004 to 70 for the stock to beat the market with the more experienced investors voting 235 to 10 for the same result.
Ziggy
