Devon Energy (NYSE:DVN) Shares 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 1.2 %

Shares of NYSE:DVN traded down $0.44 during midday trading on Friday, hitting $37.98. 9,342,292 shares of the company's stock traded hands, compared to its average volume of 11,142,604. The firm's fifty day moving average price is $35.50 and its two-hundred day moving average price is $40.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a market cap of $24.95 billion, a PE ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The firm's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy's payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price objective for the company. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Wednesday. Susquehanna decreased their price objective on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Wells Fargo & Company reduced their price target on Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.27.

Institutional Investors Weigh In On Devon Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in shares of Devon Energy by 5.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 224,898 shares of the energy company's stock worth $10,576,000 after purchasing an additional 10,940 shares during the period. Federated Hermes Inc. increased its position in Devon Energy by 29.3% in the second quarter. Federated Hermes Inc. now owns 265,282 shares of the energy company's stock worth $12,574,000 after buying an additional 60,130 shares during the period. Envestnet Asset Management Inc. lifted its stake in Devon Energy by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company's stock valued at $14,952,000 after buying an additional 1,591 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company's stock valued at $416,779,000 after acquiring an additional 1,255,543 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in shares of Devon Energy by 13.4% during the second quarter. Citizens Financial Group Inc. RI now owns 10,752 shares of the energy company's stock worth $510,000 after acquiring an additional 1,272 shares during the last quarter. Institutional investors and hedge funds 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.

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.