18,569 Devon Energy Corporation $DVN Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 7.6% during the third quarter, HoldingsChannel.com reports. The fund owned 224,868 shares of the energy company’s stock after selling 18,569 shares during the quarter. Devon Energy makes up approximately 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 18th largest position. Pekin Hardy Strauss Inc.’s holdings in Devon Energy were worth $10,353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Management Professionals Inc. grew its stake in Devon Energy by 119.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock valued at $27,000 after purchasing an additional 313 shares during the period. Premier Financial Group purchased a new stake in shares of Devon Energy during the 2nd quarter valued at $25,000. JFS Wealth Advisors LLC increased 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 during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Devon Energy during the 2nd quarter worth $28,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Devon Energy during the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DVN shares. Susquehanna boosted their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Argus restated a “buy” rating and set a $45.85 price objective on shares of Devon Energy in a report on Monday, August 17th. Raymond James Financial lifted their price objective on shares of Devon Energy from $64.00 to $67.00 and gave the stock a “strong-buy” rating in a research report on Monday, September 14th. UBS Group lifted their price objective on shares of Devon Energy from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Finally, Mizuho dropped their target price on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $60.72.

Devon Energy Stock Performance

Shares of DVN opened at $42.85 on Friday. The firm has a market cap of $47.13 billion, a PE ratio of 10.18, a PEG ratio of 1.15 and a beta of 0.43. The stock’s fifty day moving average price is $48.74 and its two-hundred day moving average price is $46.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy Corporation has a 1 year low of $32.06 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Thursday, November 5th. The energy company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The business’s revenue for the quarter was up 66.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, equities research analysts forecast that Devon Energy Corporation will post 5.49 EPS for the current year.

Key Devon Energy News

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Devon earned $1.42 per share, above several analysts’ estimates and up from $1.04 a year earlier. The company reported $6.86 billion in revenue, with year-over-year growth also noted. Reuters report on Devon’s Q3 results
• Neutral Sentiment: Devon published its fourth-quarter outlook and an initial view of 2027 alongside the results, but the supplied report does not provide the guidance figures investors will use to assess the outlook. Devon’s Q3 results announcement
• Negative Sentiment: Revenue expectations were mixed across reports: some cited a beat, while another reported sales below consensus, despite revenue of $6.86 billion and strong year-over-year growth. That discrepancy may have tempered the reaction to the earnings beat. Report on Devon’s Q3 sales expectations

Insider Transactions at Devon Energy

In other Devon Energy news, CEO Clay M. Gaspar acquired 3,913 shares of the company’s stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer directly owned 619,152 shares in the company, valued at $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the transaction, the executive vice president owned 72,720 shares of the company’s stock, valued at $3,705,084. This represents a 8.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.58% of the company’s stock.

Devon Energy Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.