Devon Energy Corporation (DVN): What the Financials Tell Us

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Devon Energy Corporation (NYSE:DVN) saw an upside of 1.56% to close Monday at $65.76 after adding $1.01 on the day. The 5-day average trading volume is 6,877,220 shares of the company’s common stock. It has gained $66.26 in the past week and touched a new high 3 times within the past 5 days. An average of 7,254,470 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 8,820,434.

DVN’s 1-month performance is 10.78% or $3.25 on its low of $56.41 reached on 01/04/23. The company’s shares have touched a 52-week low of $41.24 and high of $77.37, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, DVN has achieved 6.91% or $4.25 and has reached a new high 7 times. However, the current price is down -15.00% from the 52-week high price.


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Insider Transactions

DVN stock investors last saw insider trading activity on Nov 09.CAMERON DENNIS C (EVP and General Counsel) most recently sold 5,557 shares at $70.48 per share on Nov 09. This transaction cost the insider $391,657. EVP and General Counsel, CAMERON DENNIS C, sold 4,537 shares at a price of $53.55 on Jul 05. Then, on Jun 14, Director Williams Valerie sold 7,000 shares at a price of $69.67 per share. This transaction amounted to $487,690.

Valuation Metrics

DVN stock has a beta of 2.44. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.22 while the price-to-book (PB) in the most recent quarter is 3.93, with the price to cash flow ratio at 12.46.

Devon Energy Corporation’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.59, while the total debt to equity was 0.62. In terms of profitability, the gross margin trailing 12 months is 55.60%. The firm’s gross profit as reported stood at $3.23 billion against revenue of $12.21 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 55.73% to $1.89 billion, while revenue of $1.93 billion was -2.06% off the previous quarter. Analysts expected DVN to announce $2.38 per share in earnings in its latest quarter, but it posted $2.59, representing a 8.80% surprise. EBITDA for the quarter stood at more than $3.04 billion. DVN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 12.55 billion, with total debt at $6.75 billion. Shareholders hold equity totaling $653.7 million.

Let’s look briefly at Devon Energy Corporation (DVN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 66.97% to suggest the stock is trending Neutral, with historical volatility in this time period at 18.86%.

The stock’s 5-day moving average is $64.14, reflecting a +3.41% or $2.17 change from its current price. DVN is currently trading +6.48% above its 20-day SMA, -11.30% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -8.65% and SMA200 by+12.47%.

Stochastic %K and %D was 90.94% and 84.28% and the average true range (ATR) pointed at 1.97. The RSI (14) points at 59.26%, while the 14-day stochastic is at 94.92% with the period’s ATR at 2.11. The stock’s 9-day MACD Oscillator is pointing at 1.05 and 2.37 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for DVN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate DVN as a “sell,”, while 13 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 3 rates the stock as overweight while 15 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $61.00 and a high of $96.00, with their median price target at $79.00. Looking at these predictions, the average price target given by analysts is for Devon Energy Corporation (DVN) stock is $77.60.

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