Analysis Of The Weekly Performance Of Devon Energy Corporation (DVN)


Devon Energy Corporation (NYSE:DVN) finished Thursday with a subtraction of -$1.36 to close at $63.12, a downside of -2.11 percent. An average of 13,555,240 shares of common stock have been traded in the last five days. There was a fall of -$6.36 in the past week, and it reached a new high 51 times over the past 12 months. The last 20 days have seen an average of 11,883,365 shares traded, while the 50-day average volume stands at 11,435,814.

DVN stock has decreased by -9.14% in the last month. The company shares reached their 1-month lowest point of $63.05 on 09/22/22. With the stock rallying to its 52-week high on 06/09/22, shares of the company touched a low of $28.16 and a high of $77.82 in 52 weeks. It has reached a new high 35 times so far this year and achieved 46.20% or $19.07 in price. In spite of this, the price is down -18.89% from the 52-week high.

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Insider Transactions

80 days have passed since Devon Energy Corporation (DVN) last reported insider trading activity. CAMERON DENNIS C, who is EVP and General Counsel, most recently acquired $4,537 shares at $53.55 per share on Jul 05. In this transaction, the insider spent $242,956. Director, Williams Valerie, disposed of 7,000 shares at a price of $69.67 on Jun 14. The insider now owns more than $487,690 worth of shares. Prior to that, Director Fox Ann G went on to Sale 2,150 shares at $70.27 each on Jun 13. An amount of $151,080 was transacted.

Valuation Metrics

Devon Energy Corporation (DVN) has a trailing price-to-earnings (P/E) ratio of 8.00. The stock’s beta is 2.48. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.50, the price-to-book (PB) ratio at 4.08, and the price-to-cash flow ratio at 8.27.

The company has a payout ratio of 49.40%. The company’s most recent quarterly dividend payment was $1.55 a share, representing a up of 22.05% from $1.27 last year. Its latest increase dividend $0.28 reported on Monday August 1 2022.

Financial Health

The quick ratio of Devon Energy Corporation for the three months ended June 29 was 1.60, and the current ratio was 1.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.66 and a total debt to equity ratio of 0.67 for the quarter ending June 29. Its gross profit as reported stood at $3.23 billion compared to revenue of $12.21 billion.

Earnings Surprise

For the three-month period that ended June 29, Devon Energy Corporation had $6.46 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $1.93 billion in the quarter, while revenues were grew 86.75%. The analyst consensus anticipated Devon Energy Corporation’s latest quarter earnings to come in at $2.38 per share, but it turned out to be $2.59, a 8.80% surprise. For the quarter, EBITDA amounted to $3.01 billion. Shareholders own equity worth $654.8 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Devon Energy Corporation (DVN) price momentum. RSI 9-day as of the close on 22 September was 33.12%, suggesting the stock is Neutral, with historical volatility in this time frame at 44.97%.

As of today, DVN’s price is $65.09 -9.15% or -$6.36 from its 5-day moving average. DVN is currently trading -12.88% lower than its 20-day SMA and +8.51% higher than its 100-day SMA. However, the stock’s current price level is +20.02% above the SMA50 and +49.01% above the SMA200.

The stochastic %K and %D were 7.00% and 11.79%, respectively, and the average true range (ATR) was 2.91. With the 14-day stochastic at 0.68% and the average true range at 2.94, the RSI (14) stands at 40.62%. The stock has reached -3.24 on the 9-day MACD Oscillator while the 14-day reading was at -3.83.

Analyst Ratings

JP Morgan downgraded Devon Energy Corporation (NYSE: DVN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Devon Energy Corporation (DVN) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell DVN, while 12 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 15 others rate it as a “buy”.

What is DVN’s price target for the next 12 months?

Analysts predict a range of price targets between $57.90 and $115.00, with a median target of $80.00. Taking a look at these predictions, the average price target given by analysts for Devon Energy Corporation (DVN) stock is $80.61.


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