The stock of Devon Energy Corporation (NYSE:DVN) last traded at $48.92, up 0.04% from the previous session.
Data from the available sources indicates that Devon Energy Corporation (NYSE:DVN) is covered by 31 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $81.00 and a low of $46.00, we find $60.00. Given the previous closing price of $48.90, this indicates a potential upside of 22.7 percent. DVN stock price is now 1.11% away from the 50-day moving average and -13.78% away from the 200-day moving average. The market capitalization of the company currently stands at $32.81B.
In total, 13 analysts have assigned it a hold rating, and 14 have given it a buy rating. Brokers who have rated the stock have averaged $61.19 as their price target over the next twelve months.
With the price target reduced from $63 to $58, Goldman Upgraded its rating from Neutral to Buy for Devon Energy Corporation (NYSE: DVN).
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 $10.69 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 $23.34 million. Insiders disposed of 881,972 shares of company stock worth roughly $43.15 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 $74,550,000. HOLOCENE ADVISORS, LP invested $71,685,000 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 $51,240,000. HRT FINANCIAL LP acquired a new stake in DVN for approximately $39,000,000. RPG INVESTMENT ADVISORY, LLC purchased a new stake in DVN valued at around $7,671,000 in the second quarter. In total, there are 1,682 active investors with 80.70% ownership of the company’s stock.
With an opening price of $48.70 on Monday morning, Devon Energy Corporation (NYSE: DVN) set off the trading day. During the past 12 months, Devon Energy Corporation has had a low of $43.58 and a high of $75.51. 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 $48.67 and a two-hundred day moving average price translates $58.08 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 $3.85B 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 9.22% 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%.
