Rep. Jefferson Shreve Sells Devon Energy Corporation (NYSE:DVN) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Devon Energy Corporation NYSE: DVN. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in Devon Energy stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Devon Energy Stock Down 1.1%

Shares of NYSE:DVN traded down $0.35 during trading on Friday, reaching $32.95. 5,660,879 shares of the stock traded hands, compared to its average volume of 6,965,611. The stock has a market cap of $21.15 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 1.87 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. The stock has a 50-day moving average of $32.75 and a two-hundred day moving average of $33.50. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $47.44.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 23.8% on a year-over-year basis. As a group, sell-side analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.91%. The ex-dividend date was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Institutional Investors Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVN. Resona Asset Management Co. Ltd. bought a new position in shares of Devon Energy during the fourth quarter valued at $5,967,000. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Devon Energy by 10.8% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock valued at $10,210,000 after purchasing an additional 26,519 shares during the last quarter. Merit Financial Group LLC boosted its position in Devon Energy by 209.5% in the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock valued at $848,000 after buying an additional 15,351 shares in the last quarter. Aviva PLC grew its stake in Devon Energy by 767.3% during the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company's stock worth $12,339,000 after buying an additional 333,530 shares during the last quarter. Finally, Autumn Glory Partners LLC increased its holdings in shares of Devon Energy by 93.6% during the first quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company's stock worth $1,547,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Scotiabank restated an "outperform" rating on shares of Devon Energy in a research note on Friday, July 11th. Wells Fargo & Company boosted their price objective on Devon Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Bank of America dropped their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Susquehanna lowered their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Bernstein Bank cut their price objective on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 7th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average price target of $43.85.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Devon Energy

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.