The stock of Devon Energy Corporation (NYSE:DVN) last traded at $49.99, up 1.90% from the previous session.
Data from the available sources indicates that Devon Energy Corporation (NYSE:DVN) is covered by 30 analysts. The consensus rating among analysts is ‘Overweight’. DVN stock price is now -0.03% away from the 50-day moving average and -8.88% away from the 200-day moving average. The market capitalization of the company currently stands at $31.43B.
In total, 13 analysts have assigned it a hold rating, and 14 have given it a buy rating.
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 7,870 shares of the company’s stock on Aug 04. The stock was sold for $402,393 at an average price of $51.13. Upon completion of the transaction, the EVP and General Counsel now directly owns 210,548 shares in the company, valued at $10.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, EVP and General Counsel CAMERON DENNIS C sold 8,292 shares of the business’s stock. A total of $414,351 was realized by selling the stock at an average price of $49.97. This leaves the insider owning 218,418 shares of the company worth $10.92 million. Insiders disposed of 805,363 shares of company stock worth roughly $40.26 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 TWIN TREE MANAGEMENT, LP during the first quarter worth $28,353,000. SQUAREPOINT OPS LLC invested $19,049,000 in shares of DVN during the first quarter. In the first quarter, POINT72 EUROPE (LONDON) LLP acquired a new stake in Devon Energy Corporation valued at approximately $15,582,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in DVN for approximately $12,021,000. SIR CAPITAL MANAGEMENT, L.P. purchased a new stake in DVN valued at around $11,393,000 in the second quarter. In total, there are 1,607 active investors with 80.70% ownership of the company’s stock.
With an opening price of $48.50 on Friday 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 1.00, and a quick ratio of 0.90. The fifty day moving average price for DVN is $50.06 and a two-hundred day moving average price translates $55.75 for the stock.
The latest earnings results from Devon Energy Corporation (NYSE: DVN) was released for Jun, 2023. The net profit margin was 27.90% and return on equity was 43.10% for DVN. The company reported revenue of $3.45 billion for the quarter, compared to $5.63 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -38.61 percent.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $0.49 dividend. On an annualized basis, this represents a $5.00 dividend and a 10.00% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, DVN is presently at 45.00%.
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.
