Devon Energy Corporation $DVN Shares Sold by EagleClaw Capital Managment LLC

EagleClaw Capital Managment LLC decreased its holdings in Devon Energy Corporation (NYSE:DVN) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,475 shares of the energy company’s stock after selling 22,800 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in Devon Energy were worth $1,666,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. lifted its stake in shares of Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares in the last quarter. Accredited Wealth Management LLC lifted its stake in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $31,000. Elyxium Wealth LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $31,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Devon Energy in the third quarter worth about $31,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DVN shares. Wells Fargo & Company boosted their price objective on Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Roth Mkm reissued a “buy” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, April 28th. Jefferies Financial Group boosted their price objective on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 18th. Citigroup boosted their price objective on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Mizuho boosted their price objective on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Insider Activity at Devon Energy

In other news, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the transaction, the executive vice president directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.71% of the stock is currently owned by corporate insiders.

Devon Energy Stock Down 0.3%

Shares of Devon Energy stock opened at $44.14 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The firm has a market cap of $27.43 billion, a P/E ratio of 12.30 and a beta of 0.43. Devon Energy Corporation has a fifty-two week low of $30.24 and a fifty-two week high of $52.71. The business has a 50-day moving average price of $48.03 and a 200 day moving average price of $42.36.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.21 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s dividend payout ratio is currently 26.74%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.