Significant Wealth Partners LLC Acquires New Holdings in Devon Energy Corporation $DVN

Significant Wealth Partners LLC bought a new stake in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,658 shares of the energy company’s stock, valued at approximately $523,000.

Several other hedge funds also recently bought and sold shares of DVN. Woodline Partners LP grew its holdings in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares during the period. Sivia Capital Partners LLC acquired a new stake in Devon Energy during the 2nd quarter worth $403,000. Jump Financial LLC lifted its holdings in Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after acquiring an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Devon Energy by 17.8% during the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Devon Energy by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after purchasing an additional 8,127 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DVN shares. Barclays increased their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Tudor Pickering raised shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Wall Street Zen cut Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Truist Financial lifted their price target on Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Mizuho boosted their price target on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $59.60.

Devon Energy Trading Down 1.2%

DVN stock opened at $44.87 on Thursday. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 10.66 and a beta of 0.38. The company has a fifty day moving average price of $43.40 and a two-hundred day moving average price of $45.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. The firm 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 quarterly revenue was up 73.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. Equities analysts anticipate that Devon Energy Corporation will post 4.91 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was 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 directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.58% of the stock is owned by corporate insiders.

About Devon Energy

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.