Devon Energy (NYSE:DVN) EVP Sells $344,218.20 in Stock

Devon Energy Corporation (NYSE:DVN) EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the sale, the executive vice president directly owned 72,720 shares in the company, valued at $3,705,084. The trade was a 8.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Devon Energy Stock Performance

Shares of DVN stock opened at $48.44 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The business’s 50 day moving average is $46.08 and its two-hundred day moving average is $46.11. The company has a market capitalization of $53.28 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.39 and a beta of 0.37.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s quarterly revenue was up 73.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. Analysts expect that Devon Energy Corporation will post 5.27 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Hedge Funds Weigh In On Devon Energy

A number of large investors have recently made changes to their positions in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Devon Energy during the fourth quarter worth $25,000. JFS Wealth Advisors LLC boosted its holdings in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Devon Energy in the 2nd quarter worth about $28,000. MV Capital Management Inc. acquired a new stake in shares of Devon Energy in the fourth quarter worth approximately $29,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Devon Energy in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Trending Headlines about Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: The proposed Solitude Pipeline could materially improve Devon’s Permian gas takeaway economics. Its planned 4.5 Bcf/d capacity may reduce Waha-region congestion and potentially add an estimated $1.00 per MMBtu of margin, or roughly $410 million in annual profit for Devon if downstream Katy basis remains favorable. Solitude Pipeline Announcement Benefits Both Devon And Diamondback
• Positive Sentiment: Recent analyst commentary remains supportive. UBS assigned a Buy rating, while other analysts have maintained positive ratings and price targets above the current trading level, citing Devon’s stronger Permian focus and valuation support. Devon Energy Gets a Buy from UBS
• Positive Sentiment: Devon’s latest reported quarter exceeded expectations, with earnings and revenue above consensus and revenue growth of 73.1% year over year. Institutional ownership activity was also broadly constructive, with many large investors increasing their positions.
• Positive Sentiment: CEO Clay Gaspar purchased approximately $200,000 of shares, a modest signal of management confidence. Devon also offers a quarterly dividend of $0.32 per share, equivalent to a 2.6% indicated yield based on the cited trading price. Clay Gaspar Buys Devon Energy Stock
• Neutral Sentiment: Earlier strength was supported by higher crude prices linked to Middle East supply concerns, Devon’s free cash flow, shareholder returns, and bullish analyst actions. Sustained commodity prices could continue to support the shares, but oil-price volatility remains a key risk.
• Negative Sentiment: The stock traded ex-dividend on September 15, which can create mechanical downward pressure as the dividend value is removed from the share price. An executive sale of 6,756 shares also contrasts with the CEO purchase, although insider transactions alone do not establish a trend. Devon Energy Stock Information

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DVN shares. Weiss Ratings upgraded Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Argus reaffirmed a “buy” rating and set a $45.85 price objective on shares of Devon Energy in a research report on Monday, August 17th. Citigroup upped their price target on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 31st. Truist Financial raised their price objective on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Capital One Financial lowered their target price on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.76.

About Devon Energy

Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company also gathers, processes and transports hydrocarbons through related midstream infrastructure and markets its production to customers in the United States.

Devon’s operations are concentrated in U.S. onshore basins, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.