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Friday, September 29, 2023

Devon Energy Corporation (NYSE: DVN): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Devon Energy Corporation (DVN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.10, or 0.20%, to $51.19. The Devon Energy Corporation has recorded 707,797 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that WaterBridge NDB and Devon Energy Form Strategic Delaware Basin Produced Water Partnership.

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Stocks Info

DVN belongs to the Energy sector of the NYSE while operating in the Oil & Gas E&P industry. At the end of the last regular session, the stock closed at $51.09 and fluctuated between $51.29 as its day high and $50.51 as its day low. The current market capitalization of Devon Energy Corporation is $31.70B. A total of 6.77 million shares were traded on the day, compared to an average of 8.11M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, DVN has seen 10 BUY and 1 SELL insider trades, representing the acquisition of 47,708 and the disposition of 7,870 shares. Over the last 12 months, there were 32 BUYs and 46 SELLs from insiders. Insiders purchased 740,270 shares during that period but sold 803,233.

In the most recent transaction, CAMERON DENNIS C sold 7,870 shares of DVN for 51.13 per share on Aug 04. After the transaction, the EVP and General Counsel now owns 210,548 company shares. In a previous transaction on May 05, CAMERON DENNIS C sold 8,292 shares at 49.97 per share. DVN shares that EVP and General Counsel owns now total 218,418.

Among the insiders who bought shares, Gaspar Clay M acquired of 20,000 shares on Mar 14 at a per-share price of $49.98. This resulted in the EVP and COO holding 477,032 shares of DVN after the transaction. In another insider transaction, Muncrief Richard E bought 7,500 shares at $50.30 per share on Mar 14. Company shares held by the President and CEO now total 1,762,038.


Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. Devon Energy Corporation pays an annual dividend of $5.00, resulting in a dividend yield of 9.79%, and it has a price to earnings (P/E) ratio of 6.98. DVN’s most recent ex-dividend date was 9/14/2023 when it declared a $0.49 quarterly dividend that was paid in cash on 9/29/2023. Previously, the company paid the dividend on 6/30/2023 with an ex-dividend date of 6/14/2023. The DVN stock dividend was $0.72 per share in cash.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for DVN in the last 3 months, the mean price target is $60.39 with high estimates of $79.00 and low estimates of $50.00. In terms of 52-week highs and lows, DVN has a high of $75.51 and a low of $43.58.

As of this writing, DVN has an earnings estimate of $1.37 per share for the current quarter. EPS was calculated based on a consensus of 23 estimates, with a high estimate of $1.58 per share and a lower estimate of $1.05. The company reported an EPS of $1.46 in the last quarter, which was 5.80% higher than expectations of $1.38.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. DVN’s latest balance sheet shows that the firm has $2.27B in Cash & Short Term Investments as of fiscal 2021. There were $6.73B in debt and $3.09B in liabilities at the time. Its Book Value Per Share was $17.27, while its Total Shareholder’s Equity was $9.40B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for DVN is Buy with a score of 4.20.

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