The stock of Devon Energy Corp. (NYSE:DVN) last traded at $48.79, down -0.53% from the previous session.
DVN stock price is now 11.45% away from the 50-day moving average and 5.47% away from the 200-day moving average. The market capitalization of the company currently stands at $30.98B.
With the price target enhanced from $48 to $52, Morgan Stanley Upgraded its rating from Equal-Weight to Overweight for Devon Energy Corp. (NYSE: DVN). On December 06, 2023, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $57 to quote $58, while ‘Pickering Energy Partners’ rates the stock as ‘Outperform’
In other news, Muncrief Richard E, President and CEO bought 15,000 shares of the company’s stock on Mar 04 ’24. The stock was bought for $666,300 at an average price of $44.42. Upon completion of the transaction, the President and CEO now directly owns 1,973,006 shares in the company, valued at $96.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04 ’23, EVP and General Counsel CAMERON DENNIS C sold 7,870 shares of the business’s stock. A total of $402,393 was realized by selling the stock at an average price of $51.13. This leaves the insider owning 210,548 shares of the company worth $10.27 million. A total of 0.73% of the company’s stock is owned by insiders.
During the past 12 months, Devon Energy Corp. has had a low of $40.28 and a high of $54.33. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 1.07, and a quick ratio of 0.99. The fifty day moving average price for DVN is $44.07 and a two-hundred day moving average price translates $46.97 for the stock.
The latest earnings results from Devon Energy Corp. (NYSE: DVN) was released for Dec, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.41, beating analysts’ expectations of $1.4 by 0.01. This compares to $1.83 EPS in the same period last year. The net profit margin was 24.72% and return on equity was 32.17% for DVN. The company reported revenue of $4.14 billion for the quarter, compared to $4.3 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.58 percent. For the current quarter, analysts expect DVN to generate $3.55B in revenue.
