Devon Energy (NYSE:DVN) CEO Acquires $199,876.04 in Stock

Devon Energy Corporation (NYSE:DVN) CEO Clay Gaspar bought 3,913 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was acquired at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the transaction, the chief executive officer owned 619,152 shares of the company’s stock, valued at approximately $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Devon Energy Stock Down 5.6%

Shares of NYSE DVN opened at $48.44 on Thursday. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.39 and a beta of 0.37. 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 stock has a 50-day moving average price of $46.08 and a two-hundred day moving average price of $46.11.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm’s quarterly revenue was up 73.1% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. As a group, analysts forecast that Devon Energy Corporation will post 5.27 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DVN shares. Citigroup lifted their price target on shares of Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 31st. JPMorgan Chase & Co. cut their target price on Devon Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. 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 report on Monday. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.76.

Institutional Investors Weigh In On Devon Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tobam grew its position in Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after purchasing an additional 230 shares during the period. Sigma Planning Corp lifted its holdings in shares of Devon Energy by 3.5% in the 2nd quarter. Sigma Planning Corp now owns 6,902 shares of the energy company’s stock valued at $285,000 after buying an additional 233 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after buying an additional 236 shares during the last quarter. Retirement Planning Group LLC boosted its stake in shares of Devon Energy by 4.5% in the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock worth $233,000 after buying an additional 243 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in 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 acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy News Roundup

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

Devon Energy Company Profile

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.