Devon Energy Corp.’s filing revealed that its President and CEO Muncrief Richard E acquired Company’s shares for reported $0.67 million on Mar 04 ’24. In the deal valued at $44.42 per share,15,000 shares were bought. As a result of this transaction, Muncrief Richard E now holds 1,973,006 shares worth roughly $105.1 million.
Then, CAMERON DENNIS C sold 7,870 shares, generating $402,393 in total proceeds. Upon selling the shares at $51.13, the EVP and General Counsel now owns 210,548 shares.
Before that, CAMERON DENNIS C sold 8,292 shares. Devon Energy Corp. shares valued at $414,351 were divested by the EVP and General Counsel at a price of $49.97 per share. As a result of the transaction, CAMERON DENNIS C now holds 218,418 shares, worth roughly $11.64 million.
Wells Fargo upgraded its Devon Energy Corp. [DVN] rating to an Overweight from a an Equal weight in a research note published on April 01, 2024; the price target was increased to $59 from $46. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid December from “an Equal-weight” to “an Overweight”. JP Morgan also remained covering DVN and has increased its forecast on December 06, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Pickering Energy Partners revised its rating on November 09, 2023. It rated DVN as “an Outperform” which previously was an “a Neutral”.
Price Performance Review of DVN
On Friday, Devon Energy Corp. [NYSE:DVN] saw its stock jump 1.39% to $53.27. Over the last five days, the stock has gained 6.16%. Devon Energy Corp. shares have risen nearly 18.14% since the year began. Nevertheless, the stocks have risen 4.47% over the past one year. While a 52-week high of $54.33 was reached on 04/05/24, a 52-week low of $40.28 was recorded on 02/05/24. SMA at 50 days reached $45.50, while 200 days put it at $47.04. A total of 7.66 million shares were traded, compared to the trading of 7.7 million shares in the previous session.
Levels Of Support And Resistance For DVN Stock
The 24-hour chart illustrates a support level at 52.54, which if violated will result in even more drops to 51.80. On the upside, there is a resistance level at 53.79. A further resistance level may holdings at 54.31. The Relative Strength Index (RSI) on the 14-day chart is 85.75, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.86, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.91%. Stochastics %K at 94.71% indicates the stock is a selling.
How much short interest is there in Devon Energy Corp.?
A steep rise in short interest was recorded in Devon Energy Corp. stocks on Mar 15, 2024, growing by 1.73 million shares to a total of 16.56 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 14.83 million shares. There was a rise of 10.45%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.91.
