Devon Energy Corp. (DVN) Analysis & Opinions from Experts

Devon Energy Corp. (NYSE: DVN) is -8.19% lower on its value in year-to-date trading and has touched a low of $40.47 and a high of $61.69 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The DVN stock was last observed hovering at around $42.41 in the last trading session, with the day’s loss setting it -0.82%.

Currently trading at $41.59, the stock is -0.63% and -4.68% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.46 million and changing -1.93% at the moment leaves the stock -11.23% off its SMA200. DVN registered -29.21% loss for a year compared to 6-month loss of -16.52%. The firm has a 50-day simple moving average (SMA 50) of $2.10 and a 200-day simple moving average (SMA200) of $4.23.

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The stock witnessed a -5.35% gain in the last 1 month and extending the period to 3 months gives it a -4.63%, and is 0.70% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.26% over the week and 2.20% over the month.

Devon Energy Corp. (DVN) has around Dec 14 2023 employees, a market worth around $26.65B and $15.64B in sales. Current P/E ratio is 7.11 and Fwd P/E is 7.75. Profit margin for the company is 24.15%. Distance from 52-week low is 2.77% and -32.59% from its 52-week high. The company has generated returns on investments over the last 12 months (21.46%).

Devon Energy Corp. quarterly earnings per share for the current quarter are estimated at $1.4 with sales reaching $3.87B over the same period.The EPS is expected to shrink by -31.86% this year, but quarterly earnings will post -23.70% year-over-year. Quarterly sales are estimated to shrink -9.90% in year-over-year returns.

Devon Energy Corp. (DVN) Top Institutional Holders

1,561 institutions hold shares in Devon Energy Corp. (DVN), with institutional investors hold 70.25% of the company’s shares. The shares outstanding are 653.00M, and float is at 635.82M with Short Float at 2.36%. Institutions hold 69.81% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 74.09 million shares valued at $3.58 billion. The investor’s holdings represent 11.56% of the DVN Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 51.95 million shares valued at $2.51 billion to account for 8.11% of the shares outstanding. The other top investors are State Street Corporation which holds 41.65 million shares representing 6.50% and valued at over $2.01 billion, while Geode Capital Management, LLC holds 2.22% of the shares totaling 14.23 million with a market value of $687.87 million.

Devon Energy Corp. (DVN) Insider Activity

A total of 3 insider transactions have happened at Devon Energy Corp. (DVN) in the last six months, with sales accounting for 3 and purchases happening 0 times. The most recent transaction is an insider sale by CAMERON DENNIS C ,the company’sEVP and General Counsel. SEC filings show that CAMERON DENNIS C sold 7,870 shares of the company’s common stock on Aug 04 at a price of $51.13 per share for a total of $0.4 million. Following the sale, the insider now owns 0.21 million shares.

Devon Energy Corp. disclosed in a document filed with the SEC on May 05 that CAMERON DENNIS C (EVP and General Counsel) sold a total of 8,292 shares of the company’s common stock. The trade occurred on May 05 and was made at $49.97 per share for $0.41 million. Following the transaction, the insider now directly holds 0.22 million shares of the DVN stock.

Still, SEC filings show that on Mar 14, Gaspar Clay M (EVP and COO) acquired 20,000 shares at an average price of $49.98 for $1.0 million. The insider now directly holds 477,032 shares of Devon Energy Corp. (DVN).

Devon Energy Corp. (DVN): Who are the competitors?

The company’s main competitors (and peers) include EOG Resources Inc. (EOG) that is trading -16.68% down over the past 12 months. Pioneer Natural Resources Co. (PXD) that is -2.25% lower over the same period.