35.55 -0.18 (-0.50%)
After hours: 4:11PM EDT
|Bid||35.73 x 8200|
|Ask||35.74 x 39000|
|Day's Range||35.19 - 35.93|
|52 Week Range||28.79 - 50.69|
|PE Ratio (TTM)||8.08|
|Dividend & Yield||0.24 (0.67%)|
|1y Target Est||N/A|
For 3Q17, ConocoPhillips (COP) expects total production in the range of 1,170–1,210 Mboepd (thousand barrels of oil equivalent per day).
Devon Energy, Concho Resources, and Diamondback Energy have enviable positions in America’s best shale plays, which could fuel steady growth for years to come.
Devon Energy (DVN) reported 2Q17 production of 536 thousand barrels of oil equivalent per day (or Mboed), a decline of 17% compared to 2Q16 volumes and a decline of ~4.8% compared to 1Q17 volumes.
As of October 6, 2017, around 68.8% of analysts covering Devon Energy (DVN) have “strong buy” or “buy” recommendations on the stock.
As of September 15, 2017, Devon Energy's (DVN) total shares shorted (or short interest) stood at ~9.2 million, whereas its average daily volume is ~4.1 million.
As of October 6, 2017, Devon Energy (DVN) had an implied volatility of ~30.8%, which is lower than its implied volatility of ~39.8% at the end of 2Q17.
Devon Energy (DVN) stock fell sharply by ~5% last week. Crude oil and natural gas moved down by ~5% each in the same week.
In the week ending October 6, 2017, crude oil (USO) (USL) prices fell from $51.67 per barrel to $49.29 per barrel, a significant decline of almost 5%.
Shares of Apache (APA) fell to the bottom of the S&P 500 today after the oil and natural gas explorer said its 2017 drilling budget is on track to exceed cash flow by $1 billion, with another shortfall possible next year. The Houston-based driller is putting big bucks to work to develop Alpine High, the oil and gas field in West Texas it discovered last year. In all, it expects to spend $3.1 billion on its 2017 capital budget and a like amount in 2018, according to a presentation on the company’s web site.
The SPDR S&P Oil & Gas Exploration & Production (XOP) has had a tough year, falling nearly 18%, but Jefferies' Mark Lear and his team don't think that investors should lead the whole sector for dead. As for specific stocks, he upgraded Concho Resources (CXO) and Devon Energy (DVN) to Buy from Hold, with price targets of $159 and $43, respectively. From his note: While the Midland piece is arguably the more understood resource for most operators, CXO has historically focused more on the Delaware side of the Permian, and only recently has shifted a significant amount of rigs to the Midland.
Devon Energy (DVN) has the highest implied volatility among its peers, while Occidental Petroleum (OXY) has the lowest.
ConocoPhillips has the highest "buy" recommendations at 45.5% of analysts, followed closely by Anadarko and Devon with 44.1% and 43.7% "buy" recommendations, respectively.
Devon Energy’s (DVN) revenues were volatile between 2Q15 and 2Q17. In 2Q17, its revenues were ~$3.3 billion compared to 2Q16 revenues of $2.5 billion, a 32.0% rise.
United States unconventional E&Ps have begun to proceed with caution as the downturn has made commodity prices increasingly volatile
Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are depressed. U.S. crude output has surged past 9 million barrels a day largely because of the shale sector, whose output this year is up 27.5 percent. Investors want the higher spending to go to dividends and buybacks, not more drilling.
The oil stock is up 25% over the past year and more than double from its bottom last year, which makes profit-taking a temptation.
This could indicate that investors who seek to profit from falling equity prices are not currently targeting DVN. Over the last one-month, outflows of investor capital in ETFs holding DVN totaled $3.57 billion.