Sentry Investment Management LLC Has $137,000 Position in Devon Energy Corporation $DVN

Sentry Investment Management LLC increased its position in Devon Energy Corporation (NYSE:DVN) by 111.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,921 shares of the energy company’s stock after buying an additional 2,065 shares during the quarter. Sentry Investment Management LLC’s holdings in Devon Energy were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. SVB Wealth LLC increased its position in Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares during the period. Yousif Capital Management LLC increased its position in Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares during the period. MAS Advisors LLC increased its position in Devon Energy by 4.3% during the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after purchasing an additional 327 shares during the period. Whittier Trust Co. increased its position in Devon Energy by 24.3% during the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after purchasing an additional 377 shares during the period. Finally, Callan Family Office LLC increased its position in Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Activity

In related news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

Devon Energy Price Performance

Shares of DVN opened at $31.73 on Monday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $41.06. The business’s fifty day moving average is $34.52 and its 200 day moving average is $32.90. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The stock has a market cap of $20.14 billion, a P/E ratio of 7.12, a P/E/G ratio of 1.87 and a beta of 1.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $1.41 EPS. Devon Energy’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DVN. BMO Capital Markets increased their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. Mizuho reduced their price objective on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Devon Energy in a research report on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.14.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.