Devon Energy Corporation (DVN): Find Out What Insiders Are Doing

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Devon Energy Corporation (NYSE:DVN) finished Thursday with an addition of $0.15 to close at $61.04, an upside of 0.25 percent. An average of 6,764,720 shares of common stock have been traded in the last five days. There was a fall of -$0.72 in the past week, and it reached a new high 36 times over the past 12 months. The last 20 days have seen an average of 9,192,750 shares traded, while the 50-day average volume stands at 10,032,494.

DVN stock has decreased by -7.87% in the last month. The company shares reached their 1-month lowest point of $58.56 on 12/20/22. With the stock rallying to its 52-week high on 06/09/22, shares of the company touched a low of $41.24 and a high of $77.37 in 52 weeks. It has reached a new high 35 times so far this year and achieved 44.03% or $16.99 in price. In spite of this, the price is down -21.10% from the 52-week high.


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Insider Transactions

DVN stock investors should be aware that Devon Energy Corporation (DVN) stock had its last reported insider trading activity 51 days ago on Nov 09. In this transaction, the insider spent $391,657. EVP and General Counsel, CAMERON DENNIS C, disposed of 4,537 shares at a price of $53.55 on Jul 05. The insider now owns more than $242,956 worth of shares. Prior to that, Director Williams Valerie went on to Sale 7,000 shares at $69.67 each on Jun 14. An amount of $487,690 was transacted.

Valuation Metrics

Devon Energy Corporation (DVN) has a trailing price-to-earnings (P/E) ratio of 6.40. The stock’s beta is 2.40. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.00, the price-to-book (PB) ratio at 3.64, and the price-to-cash flow ratio at 11.24.

The company has a payout ratio of 42.80%. The company’s most recent quarterly dividend payment was $1.35 a share, representing a down of -12.9% from $1.55 last year. Its latest decrease dividend $0.20 reported on Tuesday November 1 2022.

Financial Health

The quick ratio of Devon Energy Corporation for the three months ended June 29 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.59 and a total debt to equity ratio of 0.62 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 $6.2 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $1.89 billion in the quarter, while revenues of $1.93 billion were grew 55.73%. 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 $3.04 billion. Shareholders own equity worth $653.7 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 29 December was 43.55%, suggesting the stock is Neutral, with historical volatility in this time frame at 41.67%.

As of today, DVN’s price is $61.56 -1.17% or -$0.72 from its 5-day moving average. DVN is currently trading -10.92% lower than its 20-day SMA and +6.12% higher than its 100-day SMA. However, the stock’s current price level is -12.51% below the SMA50 and +15.15% above the SMA200.

The stochastic %K and %D were 46.20% and 47.14%, respectively, and the average true range (ATR) was 2.26. With the 14-day stochastic at 48.96% and the average true range at 2.43, the RSI (14) stands at 42.43%. The stock has reached 0.81 on the 9-day MACD Oscillator while the 14-day reading was at 0.69.

Analyst Ratings

Jefferies launched coverage on Devon Energy Corporation (NYSE: DVN) in its analyst report released on October 19, 2022. The firm assigned the stock a Hold rating. The consensus rating for Devon Energy Corporation (DVN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell DVN, while 13 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 14 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 $63.00 and $98.00, 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 $79.97.

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