Monitoring Devon Energy Corporation (DVN) after recent insider movements


Devon Energy Corporation’s recently made public that its President and CEO Muncrief Richard E acquired Company’s shares for reported $0.27 million on Feb 22. In the deal valued at $53.00 per share,5,000 shares were bought. As a result of this transaction, Muncrief Richard E now holds 1,978,977 shares worth roughly $ 108.84 million.

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Then, Muncrief Richard E bought 10,000 shares, generating $532,800 in total proceeds. Upon buying the shares at $53.28, the President and CEO now owns 1,973,977 shares.

Before that, BETHANCOURT JOHN E bought 3,765 shares. Devon Energy Corporation shares valued at $199,771 were divested by the Director at a price of $53.06 per share. As a result of the transaction, BETHANCOURT JOHN E now holds 94,669 shares, worth roughly $5.21 million.

Wells Fargo initiated its Devon Energy Corporation [DVN] rating to an Equal weight in a research note published on Friday, January 25, 2023; the price target was $70. PT values the company’s stock at a premium of 21.43 to its Friday closing price. Jefferies began covering DVN with “Hold” recommendation on October 19, 2022. JP Morgan revised its rating on September 15, 2022. It rated DVN as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of DVN

On Friday, Devon Energy Corporation [NYSE:DVN] saw its stock remained unchanged to $55.00. On the same session, the stock had its day’s lowest price of $53.9012, but rose to a high of $55.19. Over the last five days, the stock has lost -1.29%. Devon Energy Corporation shares have fallen nearly -10.58% since the year began. Nevertheless, the stocks have risen 6.76% over the past one year. While a 52-week high of $77.37 was reached on 01/27/23, a 52-week low of $47.01 was recorded on 02/17/23. SMA at 50 days reached $61.14, while 200 days put it at $64.92. A total of 10.02 million shares were traded, compared to the trading of 11.92 million shares in the previous session.

Levels Of Support And Resistance For DVN Stock

The 24-hour chart illustrates a support level at 54.20, which if violated will result in even more drops to 53.41. On the upside, there is a resistance level at 55.49. A further resistance level may holdings at 55.99. The Relative Strength Index (RSI) on the 14-day chart is 36.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.67%. Stochastics %K at 17.40% indicates the stock is a buying.

How much short interest is there in Devon Energy Corporation?

A steep rise in short interest was recorded in Devon Energy Corporation stocks on Jan 30, 2023, growing by 0.54 million shares to a total of 11.44 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 10.9 million shares. There was a rise of 4.72%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.56.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 75,122,510 shares, or roughly 11.49% of the outstanding DVN shares. In other words, the investor’s shares have risen by 600,970 from its previous 13-F filing of 74521540.0. Additionally, SSgA Funds Management, Inc. increased 0.48% of its stake after which the total value it holdings stand at $2,720,545,275, while BlackRock Fund Advisors added 12.25% of its stake to hold $2.66 billion in the firm. Over the last quarter, Fidelity Management & Research Co sold -610,892 shares of Devon Energy Corporation, while Geode Capital Management LLC sold 131,526 shares. At present, Boston Partners Global Investors, is holding 10,496,945 shares valued at $663.83 million. Raymond James & Associates, Inc. owned 7,462,389 shares of the company at the time of its most recent 13F filing, worth $471.92 million.

According to FactSet, Devon Energy Corporation’s share price will average $72.71 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.09 percent from its previous closing price of $55.00. Analysts expect Devon Energy Corporation stock to reach the higher price of $89.00, while the lowest price estimate is $59.00. However, 33 analysts have rated DVN stock as an Overweight in their predictions for 2023.


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