Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Devon Energy Corp. shares valued at $1,020,800 were sold by Cashion Tana K on May 07 ’24. At $51.04 per share, Cashion Tana K sold 20,000 shares. The insider’s holdings dropped to 104,182 shares worth approximately $5.27 million following the completion of this transaction.
Also, Muncrief Richard E purchased 15,000 shares, netting a total of over 666,300 in proceeds. Following the buying of shares at $44.42 each, the insider now holds 1,973,006 shares.
Before that, CAMERON DENNIS C had sold 7,870 shares from its account. In a trade valued at $402,393, the EVP and General Counsel traded Devon Energy Corp. shares for $51.13 each. Upon closing the transaction, the insider’s holdings decreased to 7,870 shares, worth approximately $10.65 million.
As published in their initiating research note from Barclays on April 10, 2024, Devon Energy Corp. [DVN] has been an Equal weight and the price target has been revised to $59. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in early April. As of December 11, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for DVN. Earlier on December 06, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for DVN stock which previously was a “a Neutral”.
Analyzing DVN Stock Performance
During the last five days, there has been a surge of approximately 0.32%. Over the course of the year, Devon Energy Corp. shares have jumped approximately 12.13%. Shares of the company reached a 52-week high of $55.09 on 04/12/24 and a 52-week low of $40.47 on 02/05/24. A 50-day SMA is recorded $49.90, while a 200-day SMA reached $47.37. Nevertheless, trading volume fell to 5.14 million shares from 5.1 million shares the previous day.
Support And Resistance Levels for Devon Energy Corp. (DVN)
According to the 24-hour chart, there is a support level at 50.21, which, if violated, would cause prices to drop to 49.87. In the upper region, resistance lies at 50.99. The next price resistance is at 51.41. RSI (Relative Strength Index) is 45.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.76, which suggests the price will decrease in the coming days. Percent R is at 77.08%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
