Thoma Capital Management LLC Increases Stake in Devon Energy Corporation $DVN

Thoma Capital Management LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 99.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,546 shares of the energy company’s stock after purchasing an additional 20,250 shares during the quarter. Devon Energy makes up approximately 0.9% of Thoma Capital Management LLC’s portfolio, making the stock its 11th biggest position. Thoma Capital Management LLC’s holdings in Devon Energy were worth $1,675,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DVN. Crossmark Global Holdings Inc. grew its position in shares of Devon Energy by 93.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 41,906 shares of the energy company’s stock worth $1,732,000 after buying an additional 20,190 shares during the last quarter. Mraz Amerine & Associates Inc. raised its holdings in Devon Energy by 180.4% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 119,582 shares of the energy company’s stock worth $4,941,000 after purchasing an additional 76,933 shares in the last quarter. Riversedge Advisors LLC raised its stake in Devon Energy by 8.0% in the second quarter. Riversedge Advisors LLC now owns 12,935 shares of the energy company’s stock worth $534,000 after buying an additional 963 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Devon Energy by 38.2% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 13,318 shares of the energy company’s stock valued at $550,000 after purchasing an additional 3,678 shares during the period. Finally, City National Bank of Florida MSD lifted its position in Devon Energy by 39.1% during the second quarter. City National Bank of Florida MSD now owns 6,079 shares of the energy company’s stock valued at $251,000 after buying an additional 1,709 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.8%

Shares of NYSE DVN opened at $44.48 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The stock has a market capitalization of $48.93 billion, a P/E ratio of 10.57 and a beta of 0.38. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The business has a fifty day moving average price of $43.37 and a 200 day moving average price of $45.13.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm’s quarterly revenue was up 73.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Equities research analysts expect that Devon Energy Corporation will post 4.95 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s payout ratio is presently 30.40%.

Insider Activity at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on 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 owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Scotiabank lifted their price objective on Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Roth Capital reiterated a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a research note on Tuesday, April 28th. Wall Street Zen downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Mizuho lifted their price objective on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.60.

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.