The stock of Devon Energy Corp. (NYSE: DVN) has increased by 0.40 when compared to last closing price of 50.34. Despite this, the company has experienced a -4.12% fall in its stock price over the last five trading sessions. The Motley Fool reported 2024-05-05 that A relatively high price of oil is supportive of the company’s cash flow prospects in 2024. Devon Energy’s drilling in its core assets is proving successful.
Is It Worth Investing in Devon Energy Corp. (NYSE: DVN) Right Now?
Devon Energy Corp. (NYSE: DVN) has a higher price-to-earnings ratio of 9.63x compared to its average ratio, The 36-month beta value for DVN is at 2.14. Analysts have varying views on the stock, with 13 analysts rating it as a “buy,” 10 rating it as “overweight,” 9 as “hold,” and 0 as “sell.”
The public float for DVN is 627.37M, and currently, shorts hold a 2.65% of that float. The average trading volume for DVN on May 06, 2024 was 7.69M shares.
DVN’s Market Performance
The stock of Devon Energy Corp. (DVN) has seen a -4.12% decrease in the past week, with a -3.81% drop in the past month, and a 22.94% gain in the past quarter. The volatility ratio for the week is 2.83%, and the volatility levels for the past 30 days are at 2.37% for DVN. The simple moving average for the past 20 days is -3.69% for DVN’s stock, with a 7.92% simple moving average for the past 200 days.
Analysts’ Opinion of DVN
Many brokerage firms have already submitted their reports for DVN stocks, with Barclays repeating the rating for DVN by listing it as a “Equal Weight.” The predicted price for DVN in the upcoming period, according to Barclays is $59 based on the research report published on April 10, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see DVN reach a price target of $59, previously predicting the price at $46. The rating they have provided for DVN stocks is “Overweight” according to the report published on April 01st, 2024.
Morgan Stanley gave a rating of “Overweight” to DVN, setting the target price at $52 in the report published on December 11th of the previous year.
DVN Trading at 2.52% 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 -8.26% of loss for the given period.
Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 2.83%, as shares sank -5.12% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.94% upper at present.
During the last 5 trading sessions, DVN fell by -4.12%, which changed the moving average for the period of 200-days by -0.16% in comparison to the 20-day moving average, which settled at $52.34. In addition, Devon Energy Corp. saw 12.09% 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:
- 0.22 for the present operating margin
- 0.32 for the gross margin
The net margin for Devon Energy Corp. stands at 0.23. The total capital return value is set at 0.15. Equity return is now at value 28.91, with 13.82 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 1.07. The debt to equity ratio resting at 0.51. The interest coverage ratio of the stock is 9.03.
Currently, EBITDA for the company is 7.38 billion with net debt to EBITDA at 0.77. 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 8.89for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.
Conclusion
In conclusion, Devon Energy Corp. (DVN) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
