Jupiter Topco LLC Purchases Shares of 514,558 Devon Energy Corporation $DVN

Jupiter Topco LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 514,558 shares of the energy company’s stock, valued at approximately $21,260,000.

Several other large investors have also recently made changes to their positions in the stock. Tobam increased its holdings in Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after purchasing an additional 230 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after purchasing an additional 236 shares in the last quarter. Retirement Planning Group LLC lifted its stake in Devon Energy by 4.5% during the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock worth $233,000 after purchasing an additional 243 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares during the period. Finally, Catalyst Financial Partners LLC boosted its position in shares of Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after buying an additional 254 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE:DVN opened at $47.42 on Friday. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a fifty day simple moving average of $44.19 and a two-hundred day simple moving average of $45.62. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company has a market cap of $52.16 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.30 and a beta of 0.38.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company’s revenue for the quarter was up 73.1% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. As a group, equities analysts anticipate that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio is 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DVN. Susquehanna boosted their price objective on Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Morgan Stanley lowered their target price on Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Evercore raised Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 target price for the company in a research report on Wednesday, June 10th. The Goldman Sachs Group cut their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Argus reiterated a “buy” rating and set a $45.85 price target on shares of Devon Energy in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average price target of $59.15.

Devon Energy 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.