As of Wednesday close, Devon Energy Corporation’s (NYSE:DVN) stock was down -$1.11, moving down -2.27 percent to $47.88. The average number of shares traded per day over the past five days has been 13,000,140 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.77 fall in that time frame. In the last twenty days, the average volume was 8,508,865, while in the previous 50 days, it was 8,192,358.
Since last month, DVN stock retreated -4.01%. Shares of the company fell to $47.86 on 09/20/23, the lowest level in the past month. A 52-week high of $75.08 was reached on 01/27/23 after having rallying from a 52-week low of $43.33. Since the beginning of this year, DVN’s stock price has dropped by -19.79% or -$13.63, and marked a new high 8 times. However, the stock has declined by -36.23% since its 52-week high.
DVN stock investors should be aware that Devon Energy Corporation (DVN) stock had its last reported insider trading activity 48 days ago on Aug 04. CAMERON DENNIS C, the EVP and General Counsel of the company, disposed of 7,870 shares for $51.13 on Aug 04. It resulted in a $402,393 divestment by the insider. CAMERON DENNIS C sold 8,292 shares at an average price of $49.97 on May 05. The insider now owns 218,418 shares following the transaction. On Mar 14, EVP and COO Gaspar Clay M bought 20,000 shares at $49.98 apiece. The transaction was valued at $999,600.
Valuation Metrics
Right now, Devon Energy Corporation (DVN) has a P/E ratio of about 6.54. The stock’s beta is 2.36. Besides these, the trailing price-to-sales (P/S) ratio of 1.85, the price-to-book (PB) ratio of 2.77, and the price-to-cash flow ratio of 29.64 may also be considered.
The latest dividend of $0.49 per share was paid out, which is -31.94% less than last year’s $0.72. On Tuesday August 1 2023, a $0.23 dividend decrease was announced.
Financial Health
In the recent quarter, Devon Energy Corporation’s quick ratio stood at 0.90, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the recent quarter was 0.59, and the total debt-to-equity ratio was 0.61. On the profitability front, the trailing twelve-month gross margin is 54.30% percent. In the recent year, EBITDA margin amounted to 54.66%, whereas operating margins totaled 37.60%. Based on annual data, DVN earned $7.99 billion in gross profit and brought in $19.17 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 34.90%. Return on equity (ROE) for the past 12 months was 43.10%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. DVN’s revenue fell -62.88% to $3.82 billion during the quarter, while net income inched up to $3.45 billion. During the quarter, the company generated $1.54 billion in EBITDA. The liabilities of Devon Energy Corporation were 12.21 billion at the end of its most recent quarter, and its total debt was $6.74 billion. The value of shareholders’ equity is $640.7 million.
Technical Picture
This quick technical analysis looks at Devon Energy Corporation’s (DVN) price momentum. With a historical volatility rate of 22.35%, the RSI 9-day stood at 27.41% on 20 September.
With respect to its five-day moving average, the current Devon Energy Corporation price is down by -5.47% percent or -$2.77. At present, DVN shares trade -3.74% below its 20-day simple moving average and -8.36% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.30% below its SMA50 and -29.88% below its SMA200.
Stochastic coefficient K was 3.41% and Stochastic coefficient D was 7.78%, while ATR was 1.31. Given the Stochastic reading of 0.30% for the 14-day period, the RSI (14) reading has been calculated as 34.93%. As of today, the MACD Oscillator reading stands at -1.48, while the 14-day reading stands at -2.35.
Analyst Ratings
Goldman upgraded its rating on Devon Energy Corporation (NYSE: DVN) to a Buy in a note to investors on June 13, 2023. The analysts firm previously had a Neutral rating on the stock.Devon Energy Corporation (DVN) has been rated Overweight by analysts. According to 0 brokerage firms, DVN is a sell, and 13 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 5 analysts rate Devon Energy Corporation stock as buy, with 13 recommending it as overweight.
With a median target price of $60.00, the current consensus forecast for the stock is $50.00 – $79.00. Based on these forecasts, analysts predict Devon Energy Corporation (DVN) will achieve an average price target of $60.09.
