In yesterday’s Wall Street session, Devon Energy Corp. (NYSE:DVN) shares traded at $48.32, down -1.89% from the previous session.
33 analysts cover Devon Energy Corp. (NYSE:DVN), according to research data. The consensus rating among analysts is ‘Overweight’. DVN stock price is now -1.16% away from the 50-day moving average and -5.83% away from the 200-day moving average. The market capitalization of the company currently stands at $30.96B.
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The stock has received a hold rating from 14 analysts and a buy rating from 14.
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 $10.17 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 $10.55 million. Insiders disposed of 799,075 shares of company stock worth roughly $38.61 million over the past 1 year. A total of 0.66% 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 Corp. shares was purchased by TWIN TREE MANAGEMENT, LP during the first quarter worth $27,406,000. SQUAREPOINT OPS LLC invested $18,413,000 in shares of DVN during the first quarter. In the first quarter, POINT72 EUROPE (LONDON) LLP acquired a new stake in Devon Energy Corp. valued at approximately $15,061,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in DVN for approximately $11,619,000. SIR CAPITAL MANAGEMENT, L.P. purchased a new stake in DVN valued at around $11,012,000 in the second quarter. In total, there are 1,607 active investors with 70.27% ownership of the company’s stock.
On Friday morning Devon Energy Corp. (NYSE: DVN) stock kicked off with the opening price of $49.06. During the past 12 months, Devon Energy Corp. has had a low of $42.59 and a high of $75.08. 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 $48.98 and a two-hundred day moving average price translates $52.02 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 $3.75B in revenue.
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 $3.04 dividend and a 6.29% 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 55.46%.
