Brighton Jones LLC Acquires 24,225 Shares of Devon Energy Corporation $DVN

Brighton Jones LLC increased its holdings in Devon Energy Corporation (NYSE:DVN) by 428.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,878 shares of the energy company’s stock after buying an additional 24,225 shares during the period. Brighton Jones LLC’s holdings in Devon Energy were worth $950,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Devon Energy in the second quarter worth $25,000. Financial Gravity Asset Management Inc. purchased a new position in Devon Energy in the first quarter worth $26,000. Banque Cantonale Vaudoise purchased a new position in Devon Energy in the first quarter worth $26,000. Trust Co. of Vermont grew its holdings in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Devon Energy in the second quarter worth $34,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of several analyst reports. Royal Bank Of Canada set a $42.00 price target on shares of Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. Wells Fargo & Company cut their price target 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. The Goldman Sachs Group cut their price target on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Evercore ISI lifted their price target on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Finally, Scotiabank reissued an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $32.95 on Tuesday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.55 and a beta of 1.03. The firm’s fifty day moving average is $34.42 and its two-hundred day moving average is $33.06.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating 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 company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio is presently 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.