Goldman’s latest rating for DVN stock


Devon Energy Corporation’s recently made public that its EVP and General Counsel CAMERON DENNIS C unloaded Company’s shares for reported $0.4 million on Aug 04. In the deal valued at $51.13 per share,7,870 shares were sold. As a result of this transaction, CAMERON DENNIS C now holds 210,548 shares worth roughly $ 11.14 million.

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Then, CAMERON DENNIS C sold 8,292 shares, generating $414,351 in total proceeds. Upon selling the shares at $49.97, the EVP and General Counsel now owns 218,418 shares.

Before that, Gaspar Clay M bought 20,000 shares. Devon Energy Corporation shares valued at $999,600 were divested by the EVP and COO at a price of $49.98 per share. As a result of the transaction, Gaspar Clay M now holds 477,032 shares, worth roughly $25.24 million.

Goldman upgraded its Devon Energy Corporation [DVN] rating to a Buy from a a Neutral in a research note published on Friday, June 13, 2023; the price target was decreased to $58 from $63. PT values the company’s stock at a premium of 8.76 to its Friday closing price.

Price Performance Review of DVN

On Friday, Devon Energy Corporation [NYSE:DVN] saw its stock jump 3.58% to $52.92. On the same session, the stock had its day’s lowest price of $51.76, but rose to a high of $53.34. Over the last five days, the stock has gained 4.94%. Devon Energy Corporation shares have fallen nearly -11.85% since the year began. Nevertheless, the stocks have fallen -20.19% over the past one year. While a 52-week high of $75.51 was reached on 01/27/23, a 52-week low of $43.58 was recorded on 03/16/23. SMA at 50 days reached $50.29, while 200 days put it at $54.73. A total of 9.32 million shares were traded, compared to the trading of 6.78 million shares in the previous session.

Levels Of Support And Resistance For DVN Stock

The 24-hour chart illustrates a support level at 52.01, which if violated will result in even more drops to 51.09. On the upside, there is a resistance level at 53.59. A further resistance level may holdings at 54.25. The Relative Strength Index (RSI) on the 14-day chart is 64.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.47, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.59%. Stochastics %K at 82.28% indicates the stock is a selling.

How much short interest is there in Devon Energy Corporation?

A steep rise in short interest was recorded in Devon Energy Corporation stocks on Aug 14, 2023, growing by 0.61 million shares to a total of 13.85 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 13.24 million shares. There was a rise of 4.4%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.48% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.65.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 71,496,655 shares, or roughly 11.16% of the outstanding DVN shares. In other words, the investor’s shares have fallen by -1,260,667 from its previous 13-F filing of 72757322.0. Additionally, SSgA Funds Management, Inc. decreased -2.38% of its stake after which the total value it holdings stand at $2,248,924,392, while BlackRock Fund Advisors added 2.38% of its stake to hold $2.05 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 84,769 shares of Devon Energy Corporation, while Victory Capital Management, Inc. bought 1,049,592 shares. At present, Raymond James & Associates, Inc. is holding 8,027,615 shares valued at $433.49 million. Northern Trust Investments, Inc. owned 6,034,542 shares of the company at the time of its most recent 13F filing, worth $325.87 million.

However, 31 analysts have rated DVN stock as an Overweight in their predictions for 2023.


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