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Devon Energy - Barchart's Chart Of The Day

|Includes:Devon Energy Corporation (DVN)

The Chart of the Day belongs to Devon Energy (NYSE:DVN). I found the independent energy stock by sorting the New High list for new high frequency in the last month, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 2/7 the stock gained 29.76%.

DVN is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon currently owns oil and gas properties concentrated in four operating divisions: the Northern Division, the Southern Division, Canada and the International Division.

(click to enlarge)Click to enlarge

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 9.03% in the last month
  • Relative Strength Index 80.48%
  • Barchart computes a technical support level at 78.28
  • Recently traded at 79.02 with a 50 day moving average of 73.11


Fundamental factors:

 

  • Market Cap $32.19 billion
  • P/E 15.98
  • Dividend yield 1.22%
  • Revenue predicted to grow 36.80% this year and another 10.90% next year
  • Earnings estimated to increase 35.70% this year, an additional 10.60% next year and continue to increase annually at a rate of 14.27% for the next 5 years
  • Wall Street analysts issued 7 strong buy, 11 buy and 13 hold recommendations on the stock

Energy stocks can rise and fall quickly. Monitor the 50 day moving average and exit at the 100 day moving average.

Stocks: DVN