Devon Energy Stock Slides 19% Over 5 Straight Down Days
Devon Energy (DVN) stock has fallen for 5 consecutive trading days, losing 19.1% over that stretch. That erased about $11.4 billion from the company’s market value, which now stands at about $48.2 billion. The stock closed at $42.21 on Friday, November 6, 19.1% below its 52-week high of $52.15 and 33.5% above its low of $31.62.
DVN Versus The S&P 500
Returns for DVN and the S&P 500 over the streak and the periods around it, all ending Friday, November 6 and including dividends:
| Return Period | DVN | S&P 500 |
|---|---|---|
| 1 Day | -1.6% | 0.3% |
| 5 Days (Current Streak) | -19.1% | -2.7% |
| 1 Month (21 Trading Days) | -13.7% | -4.9% |
| 3 Months (63 Trading Days) | -6.3% | -4.6% |
| Year To Date | 17.4% | 8.8% |
| 1 Year (252 Trading Days) | 33.8% | 9.8% |
How The Streak Compares With The Market
The market explains little of this: the S&P 500 lost 2.7% over the same 5 sessions, including dividends, against Devon Energy’s -19.1%. 12 other S&P 500 stocks are currently on losing streaks of 5 days or longer. Over the past three months the stock is down 6.3%, a window that includes the streak; over the other 58 sessions of that window it was up 15.7%.
What The Numbers Say About The Slide
On the fundamentals, revenue grew 27.1% over the last twelve months, against a median of 19.5% for S&P 500 Energy stocks; its operating margin is 23.3%, versus a median of 23.3%; and the stock trades at 13.4 times trailing earnings against a median of 13.4. The read is mixed.
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Weakness In One Name Should Be Noise, Not News
For a diversified holder, a streak like this is a data point. For a concentrated one, it is a hole in the plan. The difference is never the stock; it is the portfolio built around it.
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