The stock of Devon Energy Corporation (NYSE:DVN) decreased by -$0.12 on Monday to finish at $50.29, down -0.24 percent. The last five days have seen an average of 7,248,220 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$11.22. The average number of shares traded over the last 20 days was 8,572,465, while the average volume over the last 50 days totaled 8,515,554.
DVN stock appreciated 2.84% since last month. On 07/17/23, the company’s shares reached a one-month low of $48.35. The stock touched a high of $75.51 on 01/27/23, after rallying from a low of $43.58 in 52 weeks. The price of DVN stock has declined by -16.23% or -$11.22 this year, reaching a new high 8 times. Still, the stock price is down -33.40% from the 52-week high.
Insider Transactions
DVN stock investors should be aware that Devon Energy Corporation (DVN) stock had its last reported insider trading activity 11 days ago on Aug 04. On Aug 04, EVP and General Counsel CAMERON DENNIS C sold 7,870 shares at $51.13 each. This transaction resulted in the insider making $402,393. On May 05, CAMERON DENNIS C sold 8,292 shares at a price of US$49.97. After the transaction, the insider now owns 218,418 shares. EVP and COO Gaspar Clay M had earlier bought 20,000 shares on Mar 14 for $49.98 a share. The transaction was completed for $999,600.
Valuation Metrics
Devon Energy Corporation (DVN) has a trailing price-to-earnings (P/E) ratio of 6.87. Beta for the stock is 2.36. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.91, the price-to-book (PB) ratio of 2.91, and the price-to-cash flow ratio of 30.58.
Company paid $0.49 per share in dividends, a decrease of -31.94% from $0.72 last year. A $0.23 dividend decrease was reported on Tuesday August 1 2023.
Financial Health
For the three months ended June 29, Devon Energy Corporation’s quick ratio was 0.90, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.59, and the total debt to equity ratio is 0.61. As far as profitability goes, gross margin for the trailing twelve months is 54.30% percent. Devon Energy Corporation’s EBITDA margin for the year ended June 29 was 54.66%, whereas its operating margin stood at 37.60% for the same period. Based on annual data, it had gross profit of $7.99 billion and revenue of $19.17 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. DVN’s return on assets (ROA) during the last 12 months has been 20.20%. There was a 34.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 43.10%.
Earnings Surprise
According to Devon Energy Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.45 billion, while revenues fell by -62.88% to $3.82 billion. It was predicted that Devon Energy Corporation’s quarterly earnings would be $1.18, but it ended up being $1.17, beating the consensus by 0.90%. EBITDA was $1.54 billion for the quarter. At the end of Devon Energy Corporation’s most recent quarter ended June 29, its liabilities totaled 12.21 billion, while its total debt was $6.74 billion. Equity owned by shareholders amounts to $640.7 million.
Technical Picture
Here’s a quick look at Devon Energy Corporation’s (DVN) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 42.02%, suggesting the stock is Neutral, with a 40.56% historical volatility rate.
The stochastic %K and %D were 30.49% and 34.96% respectively, while the average true range (ATR) was 1.37. Based on the 14-day stochastic reading of 26.83%, the RSI (14) reading is 46.58%. On the 9-day MACD Oscillator, the stock is at -0.14, and the 14-day reading is at -1.06.
Analyst Ratings
In its most recent analyst report, Goldman raised its rating on Devon Energy Corporation (NYSE: DVN) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Devon Energy Corporation (DVN) an Overweight rating. DVN is a stock that is recommended for selling by 0 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 3 rates it overweight and 14 others recommend it as a buy.
What is DVN’s price target for the next 12 months?
The current consensus forecast for the stock is between $48.00 and $77.00, with a median target price of $60.00. In analyzing these forecasts, the average price target given by analysts for Devon Energy Corporation (DVN) is $60.15.
