7,303 Shares in Devon Energy Corporation $DVN Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC bought a new stake in Devon Energy Corporation (NYSE:DVN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,303 shares of the energy company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Devon Energy by 38.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 847,759 shares of the energy company’s stock worth $31,850,000 after buying an additional 236,624 shares during the last quarter. TD Asset Management Inc raised its holdings in Devon Energy by 6.4% during the second quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock worth $8,504,000 after acquiring an additional 16,106 shares in the last quarter. Savvy Advisors Inc. acquired a new position in Devon Energy during the first quarter valued at approximately $384,000. Greatmark Investment Partners Inc. boosted its position in Devon Energy by 7.9% during the first quarter. Greatmark Investment Partners Inc. now owns 476,687 shares of the energy company’s stock valued at $17,828,000 after purchasing an additional 35,060 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Devon Energy in the first quarter valued at approximately $515,000. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DVN shares. Mizuho dropped their price objective on Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Susquehanna lowered their target price on shares of Devon Energy to $41.00 and set a “positive” rating on the stock in a report on Monday. Barclays cut their price target on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Piper Sandler decreased their price objective on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Finally, Wells Fargo & Company dropped their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction that occurred 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 owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $32.43 on Thursday. The company’s 50-day moving average is $34.46 and its 200-day moving average is $32.91. 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 firm has a market capitalization of $20.58 billion, a PE ratio of 7.27, a PEG ratio of 1.91 and a beta of 1.03. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $40.54.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. Devon Energy’s revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued 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 payout ratio is currently 21.52%.

Devon Energy Company 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.