Almost all independent oil and gas companies have suffered decline but three over 1M stocks were lucky to had a positive closing on Wednesday. Devon Energy Corporation (NYSE:DVN) scored gains after saying it predicts to maintain compounded yearly output growth of 7.5%, including expected production within the range of 265,000 to 270,000 barrels of oil equivalent a day in 2013.
Brokerage firm Jefferies Group, Inc. (NYSE:JEF) said the outlook was 2% higher from its expectation of 262,000 barrels of oil equivalent a day. Analysts said that the company is focusing more on acquisition of land and exploratory drilling.
Newfield Exploration Co. (NYSE:NFX) started the trade in red and struggled enough to appear above breakeven line final hours and maintained the position in green zone till end to rose 0.74% to reach at a price of $35.46. Energen Corporation (NYSE:EGN) with its best trading volume of at least a month gained the most in industry.
Devon Energy Corporation (NYSE:DVN) on April 04, 2012 it increased +0.18% to the closing price of $71.28. The overall volume in the last trading session was 6.31 million shares. Its fifty two week range was $50.74-$92.25. The total market capitalization remained $28.80 billion.
DVN is ahead its 52 week low with +41.24% and lagging behind from its 52 week high price with -22.25%. DVN last month stock price volatility remained 2.22%. In its share capital DVN has 404.10 million outstanding shares among them 377.57 million shares have been floated in market exchange. DVN stock institutional ownership remained 78.68% while insider ownership included 0.62%.
The stock price of DVN is moving down from its 20 days moving average with -1.11% and remote positively from 50 days moving average with +1.51%. DVN current year earnings per share experienced an addition with -3.63% while its current quarter performance remained +9.33%. Company’s beta coefficient included 1.16. Beta factors measures the amount of market risk associated with market trade.
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