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Devon Energy Corp [DVN] Investment Appeal on the Rise

Devon Energy Corp’s filing revealed that its EVP Human Resources and Admin Cashion Tana K unloaded Company’s shares for reported $1.02 million on May 07 ’24. In the deal valued at $51.04 per share,20,000 shares were sold. As a result of this transaction, Cashion Tana K now holds 104,182 shares worth roughly $3.92 million.

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Then, Muncrief Richard E bought 15,000 shares, generating $666,300 in total proceeds. Upon buying the shares at $44.42, the President and CEO now owns 1,973,006 shares.

Truist downgraded its Devon Energy Corp [DVN] rating to a Hold from a a Buy in a research note published on November 07, 2024; the price target was decreased to $43 from $49. Wolfe Research began covering DVN with “Peer perform” recommendation on July 18, 2024. Barclays started covering the stock on April 10, 2024. It rated DVN as “an Equal weight”.

Price Performance Review of DVN

On Tuesday, Devon Energy Corp [NYSE:DVN] saw its stock fall -0.08% to $37.58. Over the last five days, the stock has lost -1.80%. Devon Energy Corp shares have fallen nearly -15.96% since the year began. Nevertheless, the stocks have fallen -14.61% over the past one year. While a 52-week high of $54.63 was reached on 04/12/24, a 52-week low of $37.15 was recorded on 12/02/24. SMA at 50 days reached $39.61, while 200 days put it at $45.16.

Levels Of Support And Resistance For DVN Stock

The 24-hour chart illustrates a support level at 37.23, which if violated will result in even more drops to 36.88. On the upside, there is a resistance level at 37.96. A further resistance level may holdings at 38.34. The Relative Strength Index (RSI) on the 14-day chart is 40.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.24%. Stochastics %K at 20.64% indicates the stock is a holding.

How much short interest is there in Devon Energy Corp?

A steep rise in short interest was recorded in Devon Energy Corp stocks on 2024-11-15, growing by 1.47 million shares to a total of 20.34 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 18.88 million shares. There was a rise of 7.22%, which implies that there is a positive sentiment for the stock.

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