Devon Energy Corporation $DVN Holdings Raised by NFSG Corp

NFSG Corp raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 523.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,291 shares of the energy company’s stock after buying an additional 15,358 shares during the period. NFSG Corp’s holdings in Devon Energy were worth $920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC acquired a new position in Devon Energy in the 4th quarter worth about $9,931,000. Investors Research Corp lifted its holdings in shares of Devon Energy by 13,787.5% during the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock valued at $1,017,000 after buying an additional 27,575 shares during the last quarter. Philip James Wealth Mangement LLC lifted its holdings in shares of Devon Energy by 43.8% during the 4th quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock valued at $5,911,000 after buying an additional 49,115 shares during the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at approximately $2,089,000. Finally, LSV Asset Management grew its stake in shares of Devon Energy by 79.6% in the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock valued at $29,289,000 after buying an additional 354,500 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DVN shares. Wolfe Research set a $67.00 price objective on shares of Devon Energy and gave the company an “outperform” rating in a research report on Monday, June 22nd. TD Cowen boosted their target price on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Scotiabank increased their price target on shares of Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Barclays raised their price target on shares of Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Sanford C. Bernstein increased their target price on shares of Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.56.

Devon Energy Stock Down 0.7%

Shares of Devon Energy stock opened at $43.43 on Wednesday. Devon Energy Corporation has a 12-month low of $31.45 and a 12-month high of $52.71. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $44.53 and a two-hundred day moving average price of $43.97. The stock has a market capitalization of $26.98 billion, a P/E ratio of 12.10 and a beta of 0.38.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Equities analysts expect that Devon Energy Corporation will post 4.72 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio is currently 35.65%.

Insider Buying and Selling

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,371 shares of company stock valued at $5,258,059 over the last ninety days. 4.58% of the stock is owned by company insiders.

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.