Summary: Devon Energy seeks to strike a balance between solid returns, dividends, and sustainable energy. As such, it attracts a lot of environmentally conscious investors looking for steady income. In this guide, you will learn how to buy Devon Energy stock on an online investment platform such as eToro
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About Devon Energy
Devon Energy (NYSE: DVN) is a prominent US-based oil and gas producer with a robust multi-basin portfolio anchored in the Delaware Basin. The company follows a cash-return business model, aiming for a free cash flow and the distribution of capital to shareholders while prioritizing safe and sustainable operations.
How to buy Devon Energy stock: Step-by-step
Devon Energy is a Fortune 500 company and an S&P 500 Index constituent. Its common shares are traded on the New York Stock Exchange under the ticker symbol DVN. As of February 2024, there are 224 million BE shares outstanding, and the company has a market cap of almost $27 billion. To invest in Devon Energy, simply:
- Find a broker: Find a regulated online brokerage platform that lists DVN shares;
- Register and fund your account: Open an account and transfer funds to it;
- Place a trade: Find DVN shares on the broker’s platform and place a trade;
- Monitor your investment.
Step 1: Find a broker
To buy Devon Energy stock, you first have to register a trading account with a reliable and regulated broker that will give you access to the New York Stock Exchange and DVN shares.
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- Commission-free stock and ETF trading;
- Over 2,000 stocks from 17 different exchanges;
- Fractional shares;
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- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Step 2: Fund your account
Next, you can register an account and verify your identity by going through a know-your-customer (KYC) process (if required by the broker). Once your account is set up and verified, you can transfer some funds to it. You can do that via:
- Bank transfers;
- Credit/debit cards;
- e-wallets;
- Third-party payment systems like PayPal.
Step 3: Place a trade
Having transferred funds to your account, you can buy Devon Energy stock by following these simple steps:
- Log in on your broker’s website;
- Find DVN shares;
- Specify the number of shares you wish to buy;
- Select order type (i.e., market, limit, stop-loss, etc.);
- Review all the details once more;
- Execute the trade.
Step 4: Monitor your investment
Effective portfolio management is crucial for long-term growth in the volatile stock market. Regularly track the price fluctuations of natural gas stocks, stay updated on Devon Energy’s earnings reports, and monitor its management team’s developments. Also, stay flexible in your investment strategy and utilize market analysis tools on your broker’s platform to identify emerging opportunities in the energy sector.
For more potentially lucrative natural gas investments, check out our guides on the 5 best natural gas stocks and natural gas dividend stocks, as well as our guides on:
- How to buy Equitrans Midstream stock;
- How to buy Hess stock;
- How to buy ExxonMobil stock;
- How to buy Pioneer Natural Resources stock.
If you’re a Canadian investor, you can read our dedicated guide on Canadian natural gas stocks to invest in. For ESG investors looking for renewable energy stocks, we recommend shares in:
- Enphase Energy;
- First Solar stock;
- SolarEdge Technologies;
- SunPower Corporation;
- Array Technologies.
Devon Energy stock price today
Is Devon Energy stock a buy?
Devon Energy can be a suitable buy for investors aiming to diversify their portfolios within the natural gas sector, as its cash flow is tied to oil and gas price movements. Indeed, the stock saw some decline in 2023 due to a significant drop in gas prices, but investors are optimistic about its potential recovery in 2024.
Given the inherent volatility of stocks, though, it’s essential that you rely on fundamental analysis and conduct thorough research before deciding to purchase DVN shares. Additionally, you can use technical analysis to identify historical price trends and market movements observed by analysts in chart patterns and gain valuable insights on whether Devon Energy stock is a buy or a sell.
Disclaimer: TradingView does not recommend trading financial instruments based exclusively on the advice of the Technical Rating indicator. These recommendations cannot predict future movements and are meant as assistance for spotting potentially favorable buy/sell conditions if this is consistent with their strategy.
How to buy Devon Energy stock safely
Investing in natural gas stocks can be risky, especially if the company’s performance mostly depends on gas price fluctuations. Therefore, being cautious and trying to avoid some common investing mistakes can increase your chances of success. Some common mistakes include:
- Lack of research: Not researching the company and market conditions before investing can lead to losses;
- Relying on hype: Letting buzz drive your investment decisions rarely results in profits;
- Not diversifying: Diversify your portfolio across multiple financial assets to avoid relying on only one stock to carry you to profits;
- Not thinking long-term: Investing short-term can be good, but when it comes to stocks, you’re much better off thinking long-term.
Pros and cons of investing in Devon Energy stock
Pros
- Diversification: Investing in natural gas companies can be a good way to diversify your portfolio;
- Dividends: Devon Energy pays dividends. As of February 2024, its dividend yield is 6.83%.
- Strong portfolio: Devon Energy has a robust multi-basin portfolio;
- Fortune 500 company: As a Fortune 500 company and a part of the S&P 500 Index, Devon Energy enjoys a solid market presence.
Cons
- Market risks and volatility: Like any stock, natural energy stocks are subject to market fluctuations;
- Industry risks: The natural gas industry has to deal with regulatory changes, environmental concerns, and geopolitical issues;
- Oil dependence: Devon Energy stock prices are closely tied to gas prices.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Devon Energy stock
Does Devon Energy pay dividends?
Yes, Devon Energy does pay dividends.
How do I buy Devon Energy stock?
To buy Devon Energy stock, you need to open a brokerage account with a trading platform such as eToro.
What is Devon Energy’s stock symbol?
The stock symbol for Devon Energy is DVN.
When was Devon Energy’s IPO?
Devon Energy’s initial public offering was in 1988.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
