Devon Energy Corporation $DVN Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its position in Devon Energy Corporation (NYSE:DVN) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,204 shares of the energy company’s stock after selling 2,448 shares during the quarter. Apollon Wealth Management LLC’s holdings in Devon Energy were worth $1,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Devon Energy by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 19,428 shares of the energy company’s stock valued at $727,000 after acquiring an additional 7,648 shares during the period. Ritholtz Wealth Management raised its stake in shares of Devon Energy by 96.9% in the 1st quarter. Ritholtz Wealth Management now owns 56,980 shares of the energy company’s stock valued at $2,131,000 after acquiring an additional 28,046 shares during the period. Sound Income Strategies LLC raised its stake in shares of Devon Energy by 100.1% in the 1st quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company’s stock valued at $71,000 after acquiring an additional 956 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Devon Energy by 11.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,952 shares of the energy company’s stock valued at $260,000 after acquiring an additional 736 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of Devon Energy in the 1st quarter valued at approximately $211,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of DVN opened at $32.69 on Wednesday. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $41.84. The firm’s 50 day moving average price is $34.56 and its 200 day moving average price is $33.02. The company has a market cap of $20.75 billion, a P/E ratio of 7.33, a PEG ratio of 1.93 and a beta of 1.03. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

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

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, September 15th. Devon Energy’s payout ratio is 21.52%.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Devon Energy from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Barclays reduced their price target on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. BMO Capital Markets boosted their price target on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Tudor, Pickering, Holt & Co. upped their target price on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Seventeen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $43.68.

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.