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 opened at $38.42 on Friday. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a market capitalization of $25.24 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00. The stock has a fifty day simple moving average of $35.50 and a two-hundred day simple moving average of $40.40. 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 issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. As a group, equities analysts forecast that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

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

Institutional Investors Weigh In On Devon Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the third quarter worth about $35,000. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy during the third quarter worth about $39,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew its stake in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler cut their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. TD Cowen dropped their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Scotiabank dropped their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.

Devon Energy Company Profile

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.