Devon Energy Corporation $DVN Shares Bought by North Dakota State Investment Board

North Dakota State Investment Board grew its holdings in Devon Energy Corporation (NYSE:DVN) by 90.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,732 shares of the energy company’s stock after buying an additional 15,998 shares during the period. North Dakota State Investment Board’s holdings in Devon Energy were worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tobam grew its stake in Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after acquiring an additional 230 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after purchasing an additional 236 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Devon Energy by 3.9% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after purchasing an additional 254 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Devon Energy by 21.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock worth $54,000 after purchasing an additional 257 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DVN. Mizuho upped their price target on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial lifted their price objective on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Argus boosted their price objective on Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Capital One Financial dropped their target price on Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Finally, Wolfe Research set a $67.00 price objective on Devon Energy and gave the company an “outperform” rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.60.

Devon Energy Stock Up 3.2%

Shares of DVN opened at $45.83 on Friday. The company’s 50-day moving average price is $43.40 and its 200 day moving average price is $45.14. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The firm has a market cap of $50.41 billion, a P/E ratio of 10.89 and a beta of 0.38.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share 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 company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter last year, the firm posted $0.84 earnings per share. Devon Energy’s revenue was up 73.1% compared to the same quarter last year. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.99 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. 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 2.8%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

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.