The stock of Devon Energy Corp. (NYSE: DVN) has increased by 1.46 when compared to last closing price of 49.46.Despite this, the company has seen a gain of 3.40% in its stock price over the last five trading days. The Motley Fool reported 2024-03-30 that Most investors who are looking at dividend stocks are likely trying to find consistent payers. The high yields from Devon Energy, Pioneer Natural Resources, and Diamondback Energy are anything but reliable.
Is It Worth Investing in Devon Energy Corp. (NYSE: DVN) Right Now?
Devon Energy Corp. (NYSE: DVN) has a price-to-earnings ratio of 8.61x that is above its average ratio. Additionally, the 36-month beta value for DVN is 2.20. There are mixed opinions on the stock, with 14 analysts rating it as a “buy,” 4 rating it as “overweight,” 11 rating it as “hold,” and 0 rating it as “sell.”
The public float for DVN is 630.38M and currently, short sellers hold a 2.63% ratio of that float. The average trading volume of DVN on April 01, 2024 was 8.18M shares.
DVN’s Market Performance
DVN’s stock has seen a 3.40% increase for the week, with a 14.50% rise in the past month and a 8.65% gain in the past quarter. The volatility ratio for the week is 1.37%, and the volatility levels for the past 30 days are at 1.57% for Devon Energy Corp. The simple moving average for the last 20 days is 6.98% for DVN’s stock, with a simple moving average of 8.46% for the last 200 days.
Analysts’ Opinion of DVN
Many brokerage firms have already submitted their reports for DVN stocks, with Morgan Stanley repeating the rating for DVN by listing it as a “Overweight.” The predicted price for DVN in the upcoming period, according to Morgan Stanley is $52 based on the research report published on December 11, 2023 of the previous year 2023.
JP Morgan, on the other hand, stated in their research note that they expect to see DVN reach a price target of $58, previously predicting the price at $57. The rating they have provided for DVN stocks is “Overweight” according to the report published on December 06th, 2023.
DVN Trading at 13.89% 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 -7.63% of loss for the given period.
Volatility was left at 1.57%, however, over the last 30 days, the volatility rate increased by 1.37%, as shares surge +13.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.12% upper at present.
During the last 5 trading sessions, DVN rose by +3.40%, which changed the moving average for the period of 200-days by +1.58% in comparison to the 20-day moving average, which settled at $47.32. In addition, Devon Energy Corp. saw 11.29% 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 Muncrief Richard E, who purchase 15,000 shares at the price of $44.42 back on Mar 04 ’24. After this action, Muncrief Richard E now owns 1,973,006 shares of Devon Energy Corp., valued at $666,300 using the latest closing price.
CAMERON DENNIS C, the EVP and General Counsel of Devon Energy Corp., sale 7,870 shares at $51.13 during a trade that took place back on Aug 04 ’23, which means that CAMERON DENNIS C is holding 210,548 shares at $402,393 based on the most recent closing price.
Stock Fundamentals for DVN
Current profitability levels for the company are sitting at:
- 0.24 for the present operating margin
- 0.34 for the gross margin
The net margin for Devon Energy Corp. stands at 0.25. The total capital return value is set at 0.16. Equity return is now at value 32.17, with 15.33 for asset returns.
Based on Devon Energy Corp. (DVN), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 1.06. The debt to equity ratio resting at 0.51. The interest coverage ratio of the stock is 9.71.
Currently, EBITDA for the company is 7.38 billion with net debt to EBITDA at 0.79. When we switch over and look at the enterprise to sales, we see a ratio of 2.51. The receivables turnover for the company is 9.49for trailing twelve months and the total asset turnover is 0.6. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.07.
Conclusion
In conclusion, Devon Energy Corp. (DVN) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
