The price of Devon Energy Corporation (NYSE:DVN) shares last traded on Wall Street fell -3.49% to $67.19.
Based on available information, 30 analysts follow Devon Energy Corporation (NYSE:DVN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $103.00 and a low of $60.00, we find $80.00. Given the previous closing price of $69.62, this indicates a potential upside of 14.91 percent. DVN stock price is now -3.08% away from the 50-day moving average and 6.96% away from the 200-day moving average. The market capitalization of the company currently stands at $44.79B.
Among analysts, 13 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $81.01 as their price target over the next twelve months.
With the price target of $75, Jefferies recently initiated with Hold rating for Devon Energy Corporation (NYSE: DVN). On September 15, 2022, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock keeping its target price maintained at $83, while ‘Evercore ISI’ rates the stock as ‘In-line’.
In other news, CAMERON DENNIS C, EVP and General Counsel sold 5,557 shares of the company’s stock on Nov 09. The stock was sold for $391,657 at an average price of $70.48. Upon completion of the transaction, the EVP and General Counsel now directly owns 258,981 shares in the company, valued at $17.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 05, EVP and General Counsel CAMERON DENNIS C sold 4,537 shares of the business’s stock. A total of $242,956 was realized by selling the stock at an average price of $53.55. This leaves the insider owning 270,269 shares of the company worth $18.16 million. Insiders disposed of 997,007 shares of company stock worth roughly $66.99 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DVN stock. A new stake in Devon Energy Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $191,883,000. CAPITAL WEALTH PLANNING, LLC invested $189,738,000 in shares of DVN during the first quarter. In the first quarter, YACKTMAN ASSET MANAGEMENT LP acquired a new stake in Devon Energy Corporation valued at approximately $179,056,000. GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in DVN for approximately $34,724,000. MARSICO CAPITAL MANAGEMENT LLC purchased a new stake in DVN valued at around $28,867,000 in the second quarter. In total, there are 1,541 active investors with 80.70% ownership of the company’s stock.
A candlestick chart of Devon Energy Corporation (NYSE: DVN) showed a price of $67.60 on Monday morning. During the past 12 months, Devon Energy Corporation has had a low of $34.84 and a high of $78.82. As of last week, the company has a debt-to-equity ratio of 0.62, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for DVN is $69.33 and a two-hundred day moving average price translates $63.73 for the stock.
The latest earnings results from Devon Energy Corporation (NYSE: DVN) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $2.59, beating analysts’ expectations of $2.38 by 0.21. This compares to $1.24 EPS in the same period last year. The net profit margin was 32.70% and return on equity was 63.30% for DVN. The company reported revenue of $5.43 billion for the quarter, compared to $3.47 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 56.72 percent. For the current quarter, analysts expect DVN to generate $4.91B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/30/2022. Investors who held shares on 09/12/2022 were paid a $1.37 dividend. On an annualized basis, this represents a $5.17 dividend and a 7.69% percent yield. There was an ex-dividend date of 09/09/2022 for this dividend. In terms of dividend payout ratio, DVN is presently at 42.80%.
Devon Energy Corporation(DVN) Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.