Devon Energy (NYSE:DVN) Stock Unloaded by Rep. Kevin Hern

Key Points

• Rep. Kevin Hern sold $100,001–$250,000 of Devon Energy stock on August 31 through the Hern Family Foundation account, alongside several other recent sales across various companies.
• Devon Energy reported strong quarterly results, with earnings and revenue exceeding analyst expectations; revenue rose 73.1% year over year. The company also declared a $0.32 quarterly dividend, equivalent to a 2.7% yield.
• Institutional investors increased their exposure to Devon, with major firms including BlackRock, State Street and Wellington expanding holdings; analysts maintain a generally positive outlook, reflected in a “Moderate Buy” consensus and an average price target of $59.72.

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Devon Energy Corporation NYSE: DVN. In a filing disclosed on September 25th, the Representative disclosed that they had sold between $100,001 and $250,000 in Devon Energy stock on August 31st. The trade occurred in the Representative's "HERN FAMILY FOUNDATION" account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of CenterPoint Energy NYSE: CNP on 9/15/2026.
• Sold $1,001 - $15,000 in shares of TJX Companies NYSE: TJX on 9/15/2026.
• Sold $15,001 - $50,000 in shares of STERIS NYSE: STE on 9/15/2026.
• Sold $1,001 - $15,000 in shares of Seagate Technology NASDAQ: STX on 9/15/2026.
• Sold $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 9/14/2026.
• Sold $1,001 - $15,000 in shares of Marsh & McLennan Companies NYSE: MRSH on 9/14/2026.
• Sold $15,001 - $50,000 in shares of IQVIA NYSE: IQV on 9/14/2026.
• Sold $15,001 - $50,000 in shares of Home Depot NYSE: HD on 9/14/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 9/14/2026.
• Sold $15,001 - $50,000 in shares of Emerson Electric NYSE: EMR on 9/14/2026.

Devon Energy Stock Performance

DVN stock opened at $46.70 on Tuesday. The business's fifty day moving average is $46.83 and its 200-day moving average is $46.31. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company has a market cap of $51.38 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.27 and a beta of 0.37. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.93% and a net margin of 16.67%.The firm's quarterly revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. Equities research analysts forecast that Devon Energy Corporation will post 5.27 EPS for the current 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 given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.7%. Devon Energy's payout ratio is presently 30.40%.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DVN. BlackRock Inc. increased its holdings in Devon Energy by 57.6% during the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company's stock worth $3,941,054,000 after purchasing an additional 34,871,366 shares in the last quarter. State Street Corp lifted its holdings in shares of Devon Energy by 89.8% in the second quarter. State Street Corp now owns 73,179,266 shares of the energy company's stock valued at $3,023,767,000 after purchasing an additional 34,615,088 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Devon Energy by 418.3% during the second quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company's stock worth $2,128,905,000 after buying an additional 41,581,435 shares during the period. Geode Capital Management LLC grew its holdings in shares of Devon Energy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company's stock worth $700,238,000 after buying an additional 186,743 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 17.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company's stock worth $509,779,000 after buying an additional 2,071,021 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of the business'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 value of $344,218.20. Following the sale, the executive vice president owned 72,720 shares in the company, valued at approximately $3,705,084. The trade was a 8.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Clay Gaspar purchased 3,913 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $51.08 per share, with a total value of $199,876.04. Following the transaction, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Key Devon Energy News

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

• Positive Sentiment: Wells Fargo maintained its overweight rating on Devon Energy, indicating continued confidence in the company’s earnings outlook and valuation. The bank’s revised $64 price target still implies substantial upside from recent trading levels, despite being reduced modestly from $65. Wells Fargo Remains a Buy on Devon Energy
• Positive Sentiment: Devon’s multi-basin footprint remains a key investment argument. Its exposure across several U.S. oil and gas regions, including the Eagle Ford, provides operational diversification and multiple avenues for production, cash flow and portfolio optimization. What Is Behind Devon Energy’s Multi-Basin Footprint?
• Neutral Sentiment: Devon is receiving elevated retail and market attention, with Zacks users actively evaluating whether the shares remain attractive. The coverage highlights valuation and fundamentals but does not represent a new company-specific catalyst. Is Trending Stock Devon Energy a Buy Now?
• Negative Sentiment: BP reportedly studied buying Devon’s Eagle Ford assets but ultimately walked away. The abandoned potential transaction removes a possible source of near-term asset-sale proceeds or takeover speculation, although it may also underscore the strategic value of Devon’s South Texas operations. BP vs. Devon: A Shale Deal That Never Happened
• Negative Sentiment: Wells Fargo’s reduction of its price target from $65 to $64 is a modest negative signal, suggesting slightly less upside in its updated assumptions. However, the continued overweight rating tempers the impact of the cut. Devon Energy Stock Price Target Lowered at Wells Fargo

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DVN. The Goldman Sachs Group cut their price target on shares of Devon Energy from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Citigroup upped their target price on shares of Devon Energy from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Devon Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. Wall Street Zen cut shares of Devon Energy from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Devon Energy in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.72.

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, 2027. 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 2026 election. Kevin 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 NYSE: DVN is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon's operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.

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