Robert Ferrall Lowe III Sells 6,756 Shares of Devon Energy (NYSE:DVN) Stock

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

Devon Energy Stock Performance

Shares of NYSE DVN opened at $51.35 on Wednesday. The company’s fifty day moving average price is $45.97 and its 200 day moving average price is $46.07. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71. The company has a market capitalization of $56.49 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm’s revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. On average, research analysts predict that Devon Energy Corporation will post 5.21 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stifel Nicolaus initiated coverage on Devon Energy in a research report on Thursday, September 10th. They set a “buy” rating and a $61.00 price target on the stock. Truist Financial upped their target price on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of Devon Energy from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Finally, Citigroup increased their price objective on shares of Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.76.

Key Devon Energy News

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

• Positive Sentiment: Crude prices rose amid attacks on Saudi energy infrastructure and continuing Middle East supply concerns, providing a near-term tailwind for U.S. oil producers such as Devon. The company generated $1.7 billion in adjusted free cash flow in the second quarter, raised its fixed dividend by 33% and resumed share repurchases after completing the Coterra combination. Devon Energy rises as oil rally and upbeat analyst actions appear to support shares
• Positive Sentiment: UBS initiated or reiterated a Buy view, while other recent analysts maintained favorable ratings and targets. The stock’s consensus target is about $59.76, above recent trading levels, and coverage has highlighted stronger Permian exposure and valuation support. Devon Energy (DVN) Gets a Buy from UBS Devon Energy: Stronger Permian Focus And Valuation Support
• Positive Sentiment: CEO Clay Gaspar bought 3,913 shares for approximately $199,876, a modest insider-confidence signal. Institutional ownership also remains high, with several large investment managers increasing their DVN positions during the second quarter. Clay Gaspar Buys 3,913 Shares of Devon Energy Stock
• Neutral Sentiment: Devon announced a $0.32 quarterly dividend, with the September 15 ex-dividend date and a stated annualized yield of roughly 2.6%. The ex-dividend adjustment may temporarily affect trading, but the payment reinforces the company’s shareholder-return appeal. Devon Energy Corp’s Dividend Analysis
• Negative Sentiment: EVP Robert Ferrall Lowe sold 6,756 shares for approximately $344,218. Other recent insider activity also included executive sales, although the CEO’s purchase provides a counterpoint. These transactions are relatively small compared with Devon’s market capitalization.

Hedge Funds Weigh In On Devon Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Devon Energy during the 4th quarter worth $25,000. JFS Wealth Advisors LLC increased its holdings in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Devon Energy in the second quarter valued at $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Devon Energy during the 2nd quarter worth about $29,000. Finally, GoalVest Advisory LLC purchased a new stake in Devon Energy during the 2nd quarter worth about $30,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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.