Home Insiders Updates Taking a Closer Look At Devon Energy Corporation (DVN) Following Its Recent Trade

Taking a Closer Look At Devon Energy Corporation (DVN) Following Its Recent Trade

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Taking a Closer Look At Devon Energy Corporation (DVN) Following Its Recent Trade
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In a filing, Devon Energy Corporation revealed its EVP and General Counsel CAMERON DENNIS C unloaded Company’s shares for reported $0.24 million on Jul 05. In the deal valued at $53.55 per share,4,537 shares were sold. As a result of this transaction, CAMERON DENNIS C now holds 270,269 shares worth roughly $ 19.47 million.


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Then, Williams Valerie sold 7,000 shares, generating $487,690 in total proceeds. Upon selling the shares at $69.67, the Director now owns 29,649 shares.

Before that, Fox Ann G sold 2,150 shares. Devon Energy Corporation shares valued at $151,080 were divested by the Director at a price of $70.27 per share. As a result of the transaction, Fox Ann G now holds 26,858 shares, worth roughly $1.93 million.

Jefferies initiated its Devon Energy Corporation [DVN] rating to a Hold in a research note published on Monday, October 19, 2022; the price target was $75. PT values the company’s stock at a premium of 3.95 to its Monday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid September from “an Overweight” to “a Neutral”. Evercore ISI also remained covering DVN and has decreased its forecast on June 07, 2022 with a “an In-line” recommendation from previously “an Outperform” rating. Barclays revised its rating on May 25, 2022. It rated DVN as “an Equal weight” which previously was an “an Overweight”.

Price Performance Review of DVN

On Monday, Devon Energy Corporation [NYSE:DVN] saw its stock jump 0.78% to $72.04. On the same session, the stock had its day’s lowest price of $70.47, but rose to a high of $72.89. Over the last five days, the stock has lost -6.86%. Devon Energy Corporation shares have risen nearly 66.86% since the year began. Nevertheless, the stocks have risen 71.45% over the past one year. While a 52-week high of $78.82 was reached on 06/09/22, a 52-week low of $34.84 was recorded on 01/24/22. SMA at 50 days reached $69.19, while 200 days put it at $62.87. A total of 9.32 million shares were traded, compared to the trading of 3.65 million shares in the previous session.

Levels Of Support And Resistance For DVN Stock

The 24-hour chart illustrates a support level at 70.71, which if violated will result in even more drops to 69.38. On the upside, there is a resistance level at 73.13. A further resistance level may holdings at 74.22. The Relative Strength Index (RSI) on the 14-day chart is 51.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 55.26%. Stochastics %K at 39.66% indicates the stock is a holding.

How much short interest is there in Devon Energy Corporation?

A steep rise in short interest was recorded in Devon Energy Corporation stocks on Jul 14, 2022, dropping by -1.04 million shares to a total of 14.45 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 15.49 million shares. There was a decline of -7.2%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.49% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.97.

Devon Energy Corporation [DVN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 72,977,984 shares, or roughly 11.15% of the outstanding DVN shares. In other words, the investor’s shares have risen by 164,022 from its previous 13-F filing of 72813962.0. Additionally, SSgA Funds Management, Inc. decreased -4.71% of its stake after which the total value it holdings stand at $2,399,929,064, while BlackRock Fund Advisors added 0.82% of its stake to hold $2.25 billion in the firm. Over the last quarter, Fidelity Management & Research Co purchased 1,731,180 shares of Devon Energy Corporation, while GQG Partners LLC bought -123,003 shares. At present, Geode Capital Management LLC is holding 12,613,569 shares valued at $758.45 million. Boston Partners Global Investors, owned 10,360,713 shares of the company at the time of its most recent 13F filing, worth $622.99 million.

According to FactSet, Devon Energy Corporation’s share price will average $80.97 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.92 percent from its previous closing price of $71.48. Analysts expect Devon Energy Corporation stock to reach the higher price of $103.00, while the lowest price estimate is $60.00. However, 31 analysts have rated DVN stock as an Overweight in their predictions for 2022.

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