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Is a Correction Looming Ahead for Devon Energy Corporation (DVN)

Devon Energy Corporation (NYSE:DVN) went down by -1.12% from its latest closing price compared to the recent 1-year high of $78.82. The company’s stock price has collected -4.96% of loss in the last five trading sessions. The Wall Street Journal reported on 11/06/22 that Frackers Say Oil Production Slowing in the Shale Patch

Is It Worth Investing in Devon Energy Corporation (NYSE :DVN) Right Now?

Devon Energy Corporation (NYSE:DVN) scored a price-to-earnings ratio above its average ratio, recording 7.11 x from its present earnings ratio. Plus, the 36-month beta value for DVN is at 2.47. Opinions of the stock are interesting as 15 analysts out of 30 who provided ratings for Devon Energy Corporation declared the stock was a “buy,” while 1 rated the stock as “overweight,” 13 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $81.51, which is $12.67 above the current price. DVN currently public float of 647.71M and currently shorts hold a 3.04% ratio of that float. Today, the average trading volume of DVN was 11.49M shares.

DVN’s Market Performance

DVN stocks went down by -4.96% for the week, with a monthly drop of -10.21% and a quarterly performance of -6.16%, while its annual performance rate touched 61.87%. The volatility ratio for the week stands at 3.64% while the volatility levels for the past 30 days are set at 4.44% for Devon Energy Corporation. The simple moving average for the period of the last 20 days is -5.71% for DVN stocks with a simple moving average of 7.65% for the last 200 days.

Analysts’ Opinion of DVN

Many brokerage firms have already submitted their reports for DVN stocks, with Jefferies repeating the rating for DVN by listing it as a “Hold.” The predicted price for DVN in the upcoming period, according to Jefferies is $75 based on the research report published on October 19th of the current year 2022.

JP Morgan, on the other hand, stated in their research note that they expect to see DVN reach a price target of $83. The rating they have provided for DVN stocks is “Neutral” according to the report published on September 15th, 2022.

Evercore ISI gave a rating of “In-line” to DVN, setting the target price at $80 in the report published on June 07th of the current year.

DVN Trading at -2.08% from the 50-Day Moving Average

After a stumble in the market that brought DVN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -13.98% of loss for the given period.

Volatility was left at 4.44%, however, over the last 30 days, the volatility rate increased by 3.64%, as shares sank -11.86% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.06% lower at present.

During the last 5 trading sessions, DVN fell by -4.96%, which changed the moving average for the period of 200-days by +32.45% in comparison to the 20-day moving average, which settled at $71.45. In addition, Devon Energy Corporation saw 57.04% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at DVN starting from CAMERON DENNIS C, who sale 5,557 shares at the price of $70.48 back on Nov 09. After this action, CAMERON DENNIS C now owns 258,981 shares of Devon Energy Corporation, valued at $391,657 using the latest closing price.

CAMERON DENNIS C, the EVP and General Counsel of Devon Energy Corporation, sale 4,537 shares at $53.55 during a trade that took place back on Jul 05, which means that CAMERON DENNIS C is holding 270,269 shares at $242,956 based on the most recent closing price.

Stock Fundamentals for DVN

Current profitability levels for the company are sitting at:

  • +35.04 for the present operating margin
  • +37.88 for the gross margin

The net margin for Devon Energy Corporation stands at +20.24. Equity return is now at value 63.30, with 27.90 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.38.