DVN
Devon Energy Corporation Energy - Oil & Gas Investor Relations →
Devon Energy Corporation (DVN) closed at $43.81 as of 2026-02-02, trading 1.1% above its 200-week moving average of $43.32. The stock moved further from the line this week, up from -7.3% last week. With a 14-week RSI of 80, DVN is in overbought territory.
Over the past 2067 weeks of data, DVN has crossed below its 200-week moving average 27 times. On average, these episodes lasted 31 weeks. Historically, investors who bought DVN at the start of these episodes saw an average one-year return of +9.2%.
With a market cap of $27.5 billion, DVN is a large-cap stock. The company generates a free cash flow yield of 7.3%, which is healthy. Return on equity stands at 18.6%, a solid level. The stock trades at 1.8x book value.
Over the past 33.2 years, a hypothetical investment of $100 in DVN would have grown to $920, compared to $2849 for the S&P 500. DVN has returned 6.9% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -100% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Growth of $100: DVN vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After DVN Crosses Below the Line?
Across 26 historical episodes, buying DVN when it crossed below its 200-week moving average produced an average return of +8.0% after 12 months (median +8.0%), compared to +11.0% for the S&P 500 over the same periods. 50% of those episodes were profitable after one year. After 24 months, the average return was +26.9% vs +21.2% for the index.
Each line shows $100 invested at the moment DVN crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
DVN has crossed below its 200-week MA 27 times with an average 1-year return of +9.2% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jun 1986 | Feb 1989 | 136 | 67.8% | -18.9% | +2190.3% |
| Jan 1992 | May 1992 | 18 | 13.2% | +68.1% | +1659.2% |
| Aug 1998 | Sep 1998 | 4 | 7.2% | +47.4% | +421.6% |
| Nov 1998 | Dec 1998 | 4 | 4.9% | +22.0% | +409.5% |
| Jan 1999 | Apr 1999 | 15 | 29.8% | +17.6% | +396.8% |
| Dec 1999 | Dec 1999 | 1 | 7.2% | +66.0% | +378.4% |
| Dec 1999 | Jan 2000 | 1 | 0.5% | +86.2% | +344.0% |
| Sep 2001 | Feb 2002 | 22 | 19.9% | +26.6% | +287.9% |
| Jul 2002 | Aug 2002 | 4 | 8.1% | +26.6% | +259.2% |
| Nov 2002 | Nov 2002 | 1 | 0.4% | +13.2% | +223.2% |
| Jan 2003 | Feb 2003 | 4 | 3.5% | +31.9% | +218.8% |
| Sep 2003 | Oct 2003 | 5 | 3.6% | +55.8% | +201.2% |
| Nov 2003 | Nov 2003 | 1 | 0.7% | +61.6% | +197.8% |
| Oct 2008 | Oct 2008 | 3 | 15.2% | +15.3% | +15.6% |
| Nov 2008 | Dec 2009 | 58 | 45.2% | -2.3% | -1.1% |
| Jan 2010 | Dec 2010 | 49 | 17.8% | +14.4% | -6.3% |
| Aug 2011 | Feb 2012 | 28 | 25.3% | -18.5% | -3.4% |
| Apr 2012 | Feb 2014 | 97 | 21.4% | -17.7% | -1.3% |
| Mar 2014 | Mar 2014 | 1 | 1.1% | -6.7% | +4.0% |
| Oct 2014 | Nov 2014 | 4 | 9.4% | -22.5% | +8.7% |
| Nov 2014 | Feb 2015 | 10 | 16.5% | -22.5% | +9.6% |
| Feb 2015 | Mar 2015 | 5 | 6.5% | -66.4% | +4.5% |
| Jun 2015 | Jun 2018 | 156 | 66.7% | -39.2% | +5.6% |
| Aug 2018 | Aug 2018 | 1 | 2.8% | -43.9% | +51.3% |
| Sep 2018 | May 2021 | 139 | 81.6% | -41.7% | +51.8% |
| Sep 2024 | Sep 2024 | 4 | 7.3% | -13.2% | +10.9% |
| Oct 2024 | Ongoing | 69+ | 35.9% | Ongoing | +11.5% |
| Average | 31 | — | +9.2% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02