Devon Energy Corporation $DVN Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 18.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,636 shares of the energy company’s stock after purchasing an additional 24,809 shares during the quarter. Kestra Advisory Services LLC’s holdings in Devon Energy were worth $7,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Morningstar Investment Management LLC lifted its holdings in shares of Devon Energy by 51.1% during the 1st quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock worth $4,335,000 after acquiring an additional 29,124 shares during the period. Artemis Investment Management LLP boosted its position in shares of Devon Energy by 103.8% in the third quarter. Artemis Investment Management LLP now owns 1,465,225 shares of the energy company’s stock worth $67,459,000 after acquiring an additional 746,360 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Devon Energy in the second quarter valued at approximately $33,504,000. Illinois Municipal Retirement Fund grew its holdings in Devon Energy by 15.5% in the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after purchasing an additional 26,209 shares during the period. Finally, NewEdge Wealth LLC grew its holdings in Devon Energy by 20.0% in the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after purchasing an additional 80,000 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Argus reaffirmed a “buy” rating and set a $45.85 price target on shares of Devon Energy in a research report on Monday, August 17th. Morgan Stanley decreased their price target on shares of Devon Energy from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets reissued an “outperform” rating and set a $67.00 price objective on shares of Devon Energy in a research note on Tuesday, October 6th. Weiss Ratings cut shares of Devon Energy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday. Finally, Seaport Research Partners assumed coverage on Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.49.

Insider Activity at Devon Energy

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

Devon Energy Price Performance

Shares of NYSE DVN opened at $44.95 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.70 and a quick ratio of 0.65. Devon Energy Corporation has a 1-year low of $34.23 and a 1-year high of $52.71. The company has a market capitalization of $51.24 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.11 and a beta of 0.43. The business has a 50-day moving average of $48.36 and a 200-day moving average of $46.12.

Devon Energy (NYSE:DVN) last announced its earnings results on Thursday, November 5th. The energy company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.33 by $0.09. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.57 billion. Devon Energy had a return on equity of 14.86% and a net margin of 16.22%. The company’s revenue was up 66.5% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. On average, equities analysts anticipate that Devon Energy Corporation will post 5.57 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.28 annualized dividend and a yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is 32.00%.

Devon Energy Profile

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.