Devon Energy Corporation $DVN Stock Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Devon Energy Corporation (NYSE:DVN) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,721 shares of the energy company’s stock after selling 16,402 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Devon Energy were worth $11,313,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Premier Financial Group acquired a new stake in shares of Devon Energy in the 2nd quarter valued at $25,000. JFS Wealth Advisors LLC increased its stake in shares of Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Devon Energy in the 2nd quarter valued at $28,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Devon Energy during the 2nd quarter worth $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Devon Energy during the 2nd quarter worth $30,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DVN. The Goldman Sachs Group dropped their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Citigroup raised their price objective on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Mizuho decreased their target price on Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. UBS Group boosted their target price on Devon Energy from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $60.72.

Devon Energy Stock Down 1.4%

Shares of NYSE DVN opened at $49.16 on Friday. The company has a 50 day simple moving average of $48.47 and a 200 day simple moving average of $46.30. The firm has a market cap of $54.08 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. Devon Energy Corporation has a 1 year low of $31.65 and a 1 year high of $52.71. 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 earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the company earned $0.84 EPS. The firm’s revenue was up 73.1% compared to the same quarter last year. On average, research analysts forecast that Devon Energy Corporation will post 5.39 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Insiders Place Their Bets

In other Devon Energy news, CEO Clay Gaspar purchased 3,913 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the transaction, the executive vice president directly owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is currently owned by insiders.

About Devon Energy

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.