Devon Energy Corp. (NYSE: DVN) is 7.41% higher on its value in year-to-date trading and has touched a low of $40.28 and a high of $54.33 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The DVN stock was last observed hovering at around $47.47 in the last trading session, with the day’s gains setting it 0.96%.
Currently trading at $48.43, the stock is 7.26% and 11.66% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.22 million and changing 2.02% at the moment leaves the stock 4.79% off its SMA200. DVN registered 8.54% gain for a year compared to 6-month loss of -0.42%. The firm has a 50-day simple moving average (SMA 50) of $2.38 and a 200-day simple moving average (SMA200) of $4.81.
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The stock witnessed a 11.96% gain in the last 1 month and extending the period to 3 months gives it a 8.44%, and is 4.46% 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 1.77% over the week and 1.81% over the month.
Devon Energy Corp. (DVN) has around 1900 employees, a market worth around $30.75B and $15.11B in sales. Current P/E ratio is 8.31 and Fwd P/E is 9.06. Profit margin for the company is 24.72%. Distance from 52-week low is 20.23% and -10.85% from its 52-week high. The company has generated returns on investments over the last 12 months (20.72%).
Devon Energy Corp. quarterly earnings per share for the current quarter are estimated at $1.05 with sales reaching $3.54B over the same period.The EPS is expected to shrink by -12.85% this year, but quarterly earnings will post -2.80% year-over-year. Quarterly sales are estimated to shrink -10.20% in year-over-year returns.
Devon Energy Corp. (DVN) Top Institutional Holders
1,568 institutions hold shares in Devon Energy Corp. (DVN), with institutional investors hold 71.32% of the company’s shares. The shares outstanding are 635.70M, and float is at 630.38M with Short Float at 2.62%. Institutions hold 70.82% 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
The most recent transaction is an insider purchase by Muncrief Richard E,the company’sPresident and CEO. SEC filings show that Muncrief Richard E bought 15,000 shares of the company’s common stock on Mar 04 ’24 at a price of $44.42 per share for a total of $0.67 million. Following the purchase, the insider now owns 1.97 million shares.
Devon Energy Corp. disclosed in a document filed with the SEC on Aug 04 ’23 that CAMERON DENNIS C (EVP and General Counsel) sold a total of 7,870 shares of the company’s common stock. The trade occurred on Aug 04 ’23 and was made at $51.13 per share for $0.4 million. Following the transaction, the insider now directly holds 0.21 million shares of the DVN stock.
Still, SEC filings show that on May 05 ’23, CAMERON DENNIS C (EVP and General Counsel) disposed off 8,292 shares at an average price of $49.97 for $0.41 million. The insider now directly holds 218,418 shares of Devon Energy Corp. (DVN).
