OLD Point Trust & Financial Services N A Sells 2,550 Shares of Devon Energy Corporation $DVN

OLD Point Trust & Financial Services N A decreased its position in Devon Energy Corporation (NYSE:DVN) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,525 shares of the energy company’s stock after selling 2,550 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Devon Energy were worth $430,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after acquiring an additional 2,098,568 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Devon Energy by 12.9% during the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock valued at $430,805,000 after acquiring an additional 1,315,050 shares in the last quarter. Northern Trust Corp increased its holdings in Devon Energy by 5.1% in the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after buying an additional 316,460 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after buying an additional 2,252,918 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Devon Energy by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock worth $176,036,000 after buying an additional 354,633 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $32.43 on Thursday. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 1.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $34.46 and its two-hundred day simple moving average is $32.91. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54.

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

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. 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 is 21.52%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DVN shares. Morgan Stanley lowered their price objective on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. BMO Capital Markets lifted their price objective on Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Jefferies Financial Group lifted their price objective on Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, July 14th. Tudor, Pickering, Holt & Co. boosted their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is owned by company insiders.

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.