Hussman Strategic Advisors Inc. Buys 21,000 Shares of Devon Energy Corporation $DVN

Hussman Strategic Advisors Inc. grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 50.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,000 shares of the energy company’s stock after acquiring an additional 21,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Devon Energy were worth $2,603,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $25,000. JFS Wealth Advisors LLC boosted its holdings in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares during the last quarter. MV Capital Management Inc. bought a new stake in Devon Energy in the 4th quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in Devon Energy in the 2nd quarter worth approximately $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in Devon Energy in the 4th quarter worth approximately $29,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 3.2%

Shares of DVN stock opened at $45.83 on Friday. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The stock has a market cap of $50.41 billion, a P/E ratio of 10.89 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $43.40 and a two-hundred day simple moving average of $45.14.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s quarterly revenue was up 73.1% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. On average, research analysts expect that Devon Energy Corporation will post 4.99 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Insider Buying and Selling

In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Devon Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Raymond James Financial cut their price objective on Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a report on Thursday, July 16th. Mizuho upped their price objective on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup increased their target price on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.60.

Devon Energy Company Profile

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.