DVN Stock Summary and Trading Ideas (Devon Energy | NYSE:DVN)

Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Devon Energy trades on the NYSE stock market under the symbol DVN.

As of December 4, 2024, DVN stock price declined to $36.80 with 1,908,420 million shares trading.

DVN has a beta of 0.29, meaning it tends to be less sensitive to market movements. DVN has a correlation of 0.02 to the broad based SPY ETF.

DVN has a market cap of $24.22 billion. This is considered a Large Cap stock.

Last quarter Devon Energy reported $4 billion in Revenue and $1.10 earnings per share. This beat revenue expectation by $284 million and exceeded earnings estimates by $.01.

In the last 3 years, DVN traded as high as $79.40 and as low as $35.55.

The top ETF exchange traded funds that DVN belongs to (by Net Assets): VTI, VOO, XLE, VO, COWZ.

DVN has underperformed the market in the last year with a price return of -14.1% while the SPY ETF gained +33.5%. DVN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -13.4% and -2.9%, respectively, while the SPY returned +10.1% and +2.6%, respectively.

DVN support price is $36.99 and resistance is $38.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DVN shares will trade within this expected range on the day.