Devon Energy Corporation $DVN Shares Sold by M Holdings Securities Inc.

M Holdings Securities Inc. reduced its stake in shares of Devon Energy Corporation (NYSE:DVN) by 56.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,075 shares of the energy company’s stock after selling 12,951 shares during the period. M Holdings Securities Inc.’s holdings in Devon Energy were worth $487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DVN. Financial Management Professionals Inc. raised its holdings in shares of Devon Energy by 119.0% during the third quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock worth $27,000 after acquiring an additional 313 shares in the last quarter. Premier Financial Group purchased a new position in Devon Energy in the second quarter valued at about $25,000. JFS Wealth Advisors LLC grew its stake in Devon Energy by 56.6% in the second 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 in the last quarter. Parvin Asset Management LLC purchased a new position in Devon Energy in the second quarter valued at about $28,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in Devon Energy in the 2nd quarter worth about $29,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DVN shares. Truist Financial raised their price target on Devon Energy from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company reduced their price target on Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Argus reissued a “buy” rating and issued a $45.85 price target on shares of Devon Energy in a research note on Monday, August 17th. Citigroup increased their price objective on Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, Weiss Ratings lowered shares of Devon Energy from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.49.

Devon Energy Trading Up 3.6%

Devon Energy stock opened at $44.95 on Thursday. Devon Energy Corporation has a one year low of $34.23 and a one year high of $52.71. The company’s fifty day moving average price is $48.36 and its two-hundred day moving average price is $46.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.70 and a quick ratio of 0.65. 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.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.57 billion. Devon Energy had a return on equity of 14.86% and a net margin of 16.22%. The business’s quarterly revenue was up 66.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, analysts forecast that Devon Energy Corporation will post 5.57 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, December 15th. Devon Energy’s payout ratio is 32.00%.

About Devon Energy

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.