Devon Energy Corporation $DVN Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC trimmed its position in Devon Energy Corporation (NYSE:DVN) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,114 shares of the energy company’s stock after selling 31,310 shares during the period. NFJ Investment Group LLC’s holdings in Devon Energy were worth $5,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in Devon Energy by 0.6% in the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock valued at $1,301,914,000 after acquiring an additional 212,074 shares in the last quarter. Geode Capital Management LLC boosted its stake in Devon Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock valued at $700,238,000 after acquiring an additional 186,743 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Devon Energy by 17.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock valued at $509,779,000 after acquiring an additional 2,071,021 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Devon Energy by 6.3% in the third quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock valued at $327,938,000 after acquiring an additional 552,068 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Devon Energy by 29.3% in the third quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock valued at $288,306,000 after acquiring an additional 1,862,720 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction on Thursday, May 14th. The shares were 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 $6,162,793.40. The trade was a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,371 shares of company stock valued at $5,258,059 over the last 90 days. Insiders own 4.58% of the company’s stock.

Devon Energy Trading Up 1.5%

Shares of Devon Energy stock opened at $45.26 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The firm has a fifty day moving average price of $47.04 and a 200 day moving average price of $43.09. Devon Energy Corporation has a 1 year low of $31.45 and a 1 year high of $52.71. The stock has a market cap of $28.13 billion, a PE ratio of 12.61 and a beta of 0.37.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post 4.73 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 2.8%. 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 26.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Morgan Stanley raised their price target on shares of Devon Energy from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Wednesday. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial raised their price target on shares of Devon Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.67.

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.