How Do Devon Energy Corp. (NYSE:DVN)’s Fundamentals Affect Performance

The price of Devon Energy Corp. (NYSE:DVN) shares last traded on Wall Street rose 0.15% to $47.34.

Based on available information, 33 analysts follow Devon Energy Corp. (NYSE:DVN). 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 $47.00, we find $58.50. Given the previous closing price of $47.27, this indicates a potential upside of 23.76 percent. DVN stock price is now -2.24% away from the 50-day moving average and -6.53% away from the 200-day moving average. The market capitalization of the company currently stands at $30.33B.

Among analysts, 14 rate the stock a hold while 13 rate it a buy. Brokers who have rated the stock have averaged $59.34 as their price target over the next twelve months.

With the price target maintained at $48, Bernstein recently Downgraded its rating from Outperform to Mkt Perform for Devon Energy Corp. (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 $9.97 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 $10.34 million. Insiders disposed of 796,180 shares of company stock worth roughly $37.69 million over the past 1 year. A total of 0.66% of the company’s stock is owned by insiders.

A candlestick chart of Devon Energy Corp. (NYSE: DVN) showed a price of $47.42 on Friday morning. During the past 12 months, Devon Energy Corp. has had a low of $42.59 and a high of $70.74. As of last week, the company has a debt-to-equity ratio of 0.61, a current ratio of 0.98, and a quick ratio of 0.90. The fifty day moving average price for DVN is $48.48 and a two-hundred day moving average price translates $51.24 for the stock.

The latest earnings results from Devon Energy Corp. (NYSE: DVN) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.18, beating analysts’ expectations of $1.17 by 0.01. This compares to $2.93 EPS in the same period last year. The net profit margin was 28.26% and return on equity was 44.94% 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. For the current quarter, analysts expect DVN to generate $3.54B in revenue.

Devon Energy Corp.(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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