The price of Devon Energy Corporation (NYSE:DVN) shares last traded on Wall Street fell -3.31% to $46.13.
Based on available information, 32 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 $87.00 and a low of $49.00, we find $65.45. Given the previous closing price of $47.71, this indicates a potential upside of 37.18 percent. DVN stock price is now -9.68% away from the 50-day moving average and -23.32% away from the 200-day moving average. The market capitalization of the company currently stands at $29.54B.
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Among analysts, 13 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $65.82 as their price target over the next twelve months.
With the price target of $60, UBS recently initiated with Neutral rating for Devon Energy Corporation (NYSE: DVN). On January 25, 2023, Wells Fargo recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $70, while ‘Mizuho’ rates the stock as ‘Buy’.
In other news, CAMERON DENNIS C, EVP and General Counsel sold 8,292 shares of the company’s stock on May 05. The stock was sold for $414,351 at an average price of $49.97. Upon completion of the transaction, the EVP and General Counsel now directly owns 218,418 shares in the company, valued at $10.08 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14, EVP and COO Gaspar Clay M bought 20,000 shares of the business’s stock. A total of $999,600 was incurred on buying the stock at an average price of $49.98. This leaves the insider owning 477,032 shares of the company worth $22.01 million. Insiders disposed of 887,367 shares of company stock worth roughly $40.93 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 EPOCH INVESTMENT PARTNERS, INC. during the first quarter worth $70,299,000. HOLOCENE ADVISORS, LP invested $67,597,000 in shares of DVN during the first quarter. In the first quarter, SMEAD CAPITAL MANAGEMENT, INC. acquired a new stake in Devon Energy Corporation valued at approximately $48,318,000. HRT FINANCIAL LP acquired a new stake in DVN for approximately $36,776,000. RPG INVESTMENT ADVISORY, LLC purchased a new stake in DVN valued at around $7,234,000 in the second quarter. In total, there are 1,682 active investors with 80.70% ownership of the company’s stock.
A candlestick chart of Devon Energy Corporation (NYSE: DVN) showed a price of $47.36 on Tuesday morning. During the past 12 months, Devon Energy Corporation has had a low of $44.03 and a high of $76.30. As of last week, the company has a debt-to-equity ratio of 0.61, a current ratio of 1.10, and a quick ratio of 1.00. The fifty day moving average price for DVN is $50.95 and a two-hundred day moving average price translates $61.53 for the stock.
The latest earnings results from Devon Energy Corporation (NYSE: DVN) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.46, beating analysts’ expectations of $1.38 by 0.08. This compares to $1.48 EPS in the same period last year. The net profit margin was 31.10% and return on equity was 55.40% for DVN. The company reported revenue of $3.82 billion for the quarter, compared to $3.81 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.29 percent. For the current quarter, analysts expect DVN to generate $3.98B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/15/2023 were paid a $0.52 dividend. On an annualized basis, this represents a $4.51 dividend and a 9.78% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, DVN is presently at 47.50%.
Devon Energy Corporation(DVN) Company Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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