3 times Within The Past Five Days, Devon Energy Corp. (DVN) Hit A New High

Devon Energy Corp. (NYSE:DVN) finished Thursday with a subtraction of -$0.03 to close at $48.81, a downside of -0.06 percent. An average of 9,245,180 shares of common stock have been traded in the last five days. There was a gain of $2.40 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 9,762,505 shares traded, while the 50-day average volume stands at 8,424,844.

DVN stock has decreased by -3.23% in the last month. The company shares reached their 1-month lowest point of $46.11 on 09/21/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $43.33 and a high of $75.08 in 52 weeks. It has reached a new high 8 times so far this year and lost -18.23% or -$12.70 in price. In spite of this, the price is down -34.99% from the 52-week high.

Insider Transactions

DVN stock investors should be aware that Devon Energy Corp. (DVN) stock had its last reported insider trading activity 56 days ago on Aug 04. In this transaction, the insider spent $402,393. EVP and General Counsel, CAMERON DENNIS C, disposed of 8,292 shares at a price of $49.97 on May 05. The insider now owns more than $414,351 worth of shares. Prior to that, EVP and General Counsel CAMERON DENNIS C went on to Sale 7,179 shares at $54.77 each on Feb 17. An amount of $393,194 was transacted.

Valuation Metrics

Devon Energy Corp. (DVN) has a trailing price-to-earnings (P/E) ratio of 6.68. The stock’s beta is 2.33. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.86, the price-to-book (PB) ratio at 2.84, and the price-to-cash flow ratio at 29.64.

The company has a payout ratio of 55.46%. The company’s most recent quarterly dividend payment was $0.49 a share, representing a down of -31.94% from $0.72 last year. Its latest decrease dividend $0.23 reported on Tuesday August 1 2023.

Financial Health

The quick ratio of Devon Energy Corp. for the three months ended June 29 was 0.90, and the current ratio was 0.98, indicating that the company is not 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 0.61 for the quarter ending June 29. Its gross profit as reported stood at $7.99 billion compared to revenue of $19.17 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Devon Energy Corp.’s return on assets was 20.38%.

Earnings Surprise

For the three-month period that ended June 29, Devon Energy Corp. had $6.17 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 $690.0 million in the quarter, while revenues were shrunk -180.0%. The analyst consensus anticipated Devon Energy Corp.’s latest quarter earnings to come in at $1.17 per share, but it turned out to be $1.18, a 0.90% surprise. For the quarter, EBITDA amounted to $1.54 billion. Shareholders own equity worth $640.7 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Devon Energy Corp. (DVN) price momentum. RSI 9-day as of the close on 28 September was 48.17%, suggesting the stock is Neutral, with historical volatility in this time frame at 32.06%.

As of today, DVN’s price is $47.74 +5.17% or $2.40 from its 5-day moving average. DVN is currently trading -3.65% lower than its 20-day SMA and -3.08% lower than its 100-day SMA. However, the stock’s current price level is -3.58% below the SMA50 and -18.13% below the SMA200.

The stochastic %K and %D were 29.03% and 20.83%, respectively, and the average true range (ATR) was 1.28. With the 14-day stochastic at 38.30% and the average true range at 1.29, the RSI (14) stands at 46.35%. The stock has reached 0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.72.