Devon Energy (NYSE:DVN) Stock Unloaded Rep. Kevin Hern

Representative Kevin Hern (R-Oklahoma) recently sold shares of Devon Energy Co. (NYSE:DVN). In a filing disclosed on January 15th, the Representative disclosed that they had sold between $250,001 and $500,000 in Devon Energy stock on December 31st. The trade occurred in the Representative’s “HERN FAMILY REVOCABLE TRUST > BROKERAGE INVESTMENT ACCOUNT” account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $50,001 – $100,000 in shares of Intel (NASDAQ:INTC) on 12/31/2024.
• Sold $15,001 – $50,000 in shares of Estée Lauder Companies (NYSE:EL) on 12/31/2024.
• Sold $100,001 – $250,000 in shares of Johnson & Johnson (NYSE:JNJ) on 12/31/2024.
• Sold $50,001 – $100,000 in shares of DexCom (NASDAQ:DXCM) on 12/31/2024.
• Sold $50,001 – $100,000 in shares of AGCO (NYSE:AGCO) on 12/31/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Exxon Mobil (NYSE:XOM) on 12/10/2024.
• Purchased $100,001 – $250,000 in shares of McDonald’s (NYSE:MCD) on 10/29/2024.

Devon Energy Stock Down 0.0 %

Shares of DVN stock opened at $38.42 on Friday. The company’s fifty day simple moving average is $35.50 and its two-hundred day simple moving average is $40.40. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The stock has a market cap of $25.24 billion, a P/E ratio of 7.13, a PEG ratio of 1.14 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts predict that Devon Energy Co. will post 4.72 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. Devon Energy’s dividend payout ratio is currently 16.33%.

Institutional Investors Weigh In On Devon Energy

Hedge funds have recently made changes to their positions in the company. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy during the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy during the 3rd quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in shares of Devon Energy in the 3rd quarter valued at $230,928,000. International Assets Investment Management LLC raised its position in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after acquiring an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DVN shares. Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Truist Financial reduced their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Raymond James decreased their price objective on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.27.

About Representative Hern

Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma’s 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2025. Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma’s 1st Congressional District. He declared candidacy for the 2024 election. Before running for Congress, Hern was a McDonald’s franchisee and served on the McDonald’s National Leadership Team. Hern went into business as a McDonald’s franchisee in 1999. He acquired 10 McDonald’s franchises by 2012. He served on the McDonald’s National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.