Devon Energy (NYSE:DVN) Shares Sold 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 NYSE:DVN opened at $38.42 on Friday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $35.50 and its 200-day moving average price is $40.39. The stock has a market capitalization of $25.24 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on DVN shares. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. BMO Capital Markets dropped their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Friday, January 3rd. Finally, TD Cowen dropped their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Hedge Funds Weigh In On Devon Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. SkyOak Wealth LLC grew its stake in shares of Devon Energy by 4.1% in the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock worth $298,000 after buying an additional 250 shares during the last quarter. Riversedge Advisors LLC increased its holdings in shares of Devon Energy by 3.6% during the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after acquiring an additional 253 shares in the last quarter. Modus Advisors LLC raised its position in shares of Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after purchasing an additional 272 shares during the last quarter. Lummis Asset Management LP boosted its stake in Devon Energy by 1.0% in the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after purchasing an additional 290 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

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.