At the time of writing, Devon Energy Corp. [DVN] stock is trading at $45.45, up 0.82%. An important factor to consider is whether the stock is rising or falling in short-term value. The DVN shares have gain 3.23% over the last week, with a monthly amount glided 11.70%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Devon Energy Reports Fourth-Quarter and Full-Year 2023 Results; Declares Quarterly Dividend and Raises Fixed Dividend by 10 Percent in 2024. In a post published today on Yahoo Finance, Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the fourth-quarter and full-year 2023. The company also declared its quarterly dividend and provided an outlook for 2024. Devon’s earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com.
From an analyst’s perspective:
Devon Energy Corp. [NYSE: DVN] stock has seen the most recent analyst activity on December 11, 2023, when Morgan Stanley upgraded its rating to a Overweight and also boosted its price target to $52 from $48. Previously, JP Morgan upgraded its rating to Overweight on December 06, 2023, and elevated its price target to $58. On November 09, 2023, upgrade upgraded it’s rating to Outperform. Bernstein downgraded its rating to a Mkt Perform but stick to its price target of $48 on October 17, 2023. Goldman upgraded its rating to a Buy and reduced its price target to $58 on June 13, 2023. UBS started tracking with a Neutral rating for this stock on April 19, 2023, and assigned it a price target of $60. In a note dated January 25, 2023, Wells Fargo initiated an Equal Weight rating and provided a target price of $70 on this stock.
For the past year, the stock price of Devon Energy Corp. fluctuated between $40.47 and $54.58. Currently, Wall Street analysts expect the stock to reach $68.59 within the next 12 months. Devon Energy Corp. [NYSE: DVN] shares were valued at $45.45 at the most recent close of the market. An investor can expect a potential return of 50.91% based on the average DVN price forecast.
Analyzing the DVN fundamentals
According to Devon Energy Corp. [NYSE:DVN], the company’s sales were 15.11B for trailing twelve months, which represents an -12.20% plunge. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at 0.24%, Pretax Profit Margin comes in at 0.31%, and Net Profit Margin reading is 0.25%. To continue investigating profitability, this company’s Return on Assets is posted at 0.15, Equity is 0.33 and Total Capital is 0.16. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.51.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 45.03 points at the first support level, and at 44.60 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.75, and for the 2nd resistance point, it is at 46.04.
Devon Energy Corp. [DVN] reported earnings per share of $1.41 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.4/share, meaning a difference of $0.01 and a surprise factor of 0.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.65 per share as compared to estimates of $1.57 per share, a difference of $0.08 representing a surprise of 5.10%.
Ratios To Look Out For
It is important to note that Devon Energy Corp. [NYSE:DVN] has a current ratio of 1.07. On the other hand, the Quick Ratio is 0.99, and the Cash Ratio is 0.3. Considering the valuation of this stock, the price to sales ratio is 1.91, the price to book ratio is 2.40 and price to earnings (TTM) ratio is 7.80.
Transactions by insiders
Recent insider trading involved Muncrief Richard E, President and CEO, that happened on Mar 04 ’24 when 15000.0 shares were purchased. EVP and General Counsel, CAMERON DENNIS C completed a deal on Aug 04 ’23 to sell 7870.0 shares. Meanwhile, EVP and General Counsel CAMERON DENNIS C sold 8292.0 shares on May 05 ’23.
