Clay Gaspar Buys 3,913 Shares of Devon Energy (NYSE:DVN) Stock

Devon Energy Corporation (NYSE:DVN) CEO Clay Gaspar purchased 3,913 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average cost of $51.08 per share, with a total value of $199,876.04. Following the acquisition, the chief executive officer owned 619,152 shares in the company, valued at $31,626,284.16. This represents a 0.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Devon Energy Stock Performance

NYSE:DVN opened at $51.35 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The company has a fifty day moving average of $45.97 and a two-hundred day moving average of $46.07. The stock has a market capitalization of $56.49 billion, a PE ratio of 12.20, a P/E/G ratio of 1.36 and a beta of 0.37. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The business 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 company’s revenue for the quarter was up 73.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, research analysts forecast that Devon Energy Corporation will post 5.21 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on DVN shares. The Goldman Sachs Group reduced their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Capital One Financial dropped their price target on Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Argus reissued a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Wells Fargo & Company decreased their price objective on Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Finally, Barclays lowered their target price on shares of Devon Energy from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.76.

Institutional Investors Weigh In On Devon Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tobam grew its stake in Devon Energy by 16.4% during the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after acquiring an additional 230 shares in the last quarter. Sigma Planning Corp boosted its holdings in 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 purchasing an additional 233 shares during the period. TD Private Client Wealth LLC boosted its holdings in Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after purchasing an additional 236 shares during the period. Retirement Planning Group LLC grew its position in shares of Devon Energy by 4.5% during the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after purchasing an additional 243 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Headlines Impacting Devon Energy

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.

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.