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

Representative Jefferson Shreve (R-Indiana) recently bought shares of Devon Energy Co. (NYSE:DVN). In a filing disclosed on March 09th, the Representative disclosed that they had bought between $15,001 and $50,000 in Devon Energy stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

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

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Devon Energy Stock Up 0.1 %

Shares of Devon Energy stock traded up $0.02 during trading on Tuesday, hitting $34.23. 4,055,502 shares of the stock traded hands, compared to its average volume of 7,837,446. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The stock’s fifty day simple moving average is $35.29 and its 200 day simple moving average is $37.57. The firm has a market cap of $22.21 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.80%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

DVN has been the topic of a number of recent research reports. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Citigroup lowered Devon Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Susquehanna upped their target price on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, February 20th. Cowen lowered shares of Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, Barclays upped their target price on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.58.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its holdings in Devon Energy by 2.8% in the 3rd quarter. QRG Capital Management Inc. now owns 23,515 shares of the energy company’s stock valued at $920,000 after buying an additional 630 shares during the period. M&G PLC increased its position in shares of Devon Energy by 2.2% during the third quarter. M&G PLC now owns 146,393 shares of the energy company’s stock valued at $5,709,000 after acquiring an additional 3,215 shares during the last quarter. Graypoint LLC raised its stake in shares of Devon Energy by 5.3% in the 3rd quarter. Graypoint LLC now owns 10,891 shares of the energy company’s stock valued at $426,000 after acquiring an additional 553 shares during the period. Principal Financial Group Inc. boosted its position in shares of Devon Energy by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company’s stock worth $28,635,000 after purchasing an additional 7,487 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

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 [email protected] 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.