Among the S&P 500’s biggest fallers on Friday November 29 was Devon Energy Corporation (DVN). The stock experienced a 2.75% decline to $21.89 with 2.39 million shares changing hands.
Devon Energy Corporation started at an opening price of 22.25 and hit a high of $22.25 and a low of $21.71. Ultimately, the stock took a hit and finished the day at $0.62 per share. Devon Energy Corporation trades an average of n/a shares a day out of a total 384.1 million shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. Devon Energy Corporation hit a high of $35.39 and a low of $19.72 over the last year.
Devon Energy, based in Oklahoma City, is one of the largest independent exploration & production companies in North America. The firm’s asset base in spread throughout onshore North America with franchise development assets in the Stack and Delaware Basin. Other shale assets include acreage in the Eagle Ford, Powder River Basin, and Barnett. The company also holds oil sands operations in Alberta, Canada. At year-end 2018, Devon’s proven reserves totaled 1,927 million barrels of oil equivalent, or boe, with net production of 535 mboe/d. Oil and natural gas liquids made up 66% of production and 59% of proven reserves.
With its headquarters located in Oklahoma City, OK, Devon Energy Corporation employs 2,900 people. After today’s trading, the company’s market cap has fallen to $8.41 billion, a P/S of n/a, a P/B of 1.29, and a P/FCF of n/a.
For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.
The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.