Devon Energy (NYSE:DVN) Shares 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 Price Performance

Shares of NYSE DVN opened at $34.40 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company’s 50-day moving average is $35.32 and its 200 day moving average is $37.49. The stock has a market capitalization of $22.32 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) 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 analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, sell-side analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.79%. Devon Energy’s payout ratio is presently 21.05%.

Institutional Trading of Devon Energy

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

Analyst Ratings Changes

Several equities analysts have commented on DVN shares. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Piper Sandler boosted their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Cowen cut shares of Devon Energy to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $48.58.

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.

Devon Energy Company Profile

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.