Rep. Kevin Hern Sells Devon Energy Co. (NYSE:DVN) Shares

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 Price Performance

Shares of DVN stock traded down $0.44 during midday trading on Friday, reaching $37.98. 9,342,292 shares of the company traded hands, compared to its average volume of 10,750,120. The firm’s 50 day simple moving average is $35.48 and its two-hundred day simple moving average is $40.32. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market cap of $24.95 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.

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

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. Devon Energy’s payout ratio is 16.33%.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew 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 valued at $10,576,000 after buying an additional 10,940 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Devon Energy by 29.3% during the 2nd quarter. Federated Hermes Inc. now owns 265,282 shares of the energy company’s stock valued at $12,574,000 after buying an additional 60,130 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Devon Energy by 0.5% during the 2nd 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 grew its position in shares of Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of Devon Energy by 13.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 10,752 shares of the energy company’s stock valued at $510,000 after buying an additional 1,272 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on DVN shares. BMO Capital Markets lowered their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Barclays lowered their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. Finally, Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy 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.

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.