Devon Energy Corporation $DVN Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its position in shares of Devon Energy Corporation (NYSE:DVN) by 46.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,258 shares of the energy company’s stock after selling 159,532 shares during the quarter. D.A. Davidson & CO.’s holdings in Devon Energy were worth $5,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC grew its position in Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after buying an additional 321 shares during the period. Yousif Capital Management LLC grew its position in Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. MAS Advisors LLC grew its position in Devon Energy by 4.3% during the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after buying an additional 327 shares during the period. Whittier Trust Co. grew its position in Devon Energy by 24.3% during the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after buying an additional 377 shares during the period. Finally, Callan Family Office LLC grew its position in Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $33.44 on Friday. The company’s 50-day moving average price is $34.45 and its 200-day moving average price is $32.95. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $21.23 billion, a P/E ratio of 7.50, a P/E/G ratio of 2.51 and a beta of 1.03. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $40.54.

Devon Energy (NYSE:DVN) last posted its quarterly 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. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the firm’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 transaction, the director directly owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on DVN shares. Tudor, Pickering, Holt & Co. raised their price target on shares of Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. 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 research report on Friday, October 17th. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Siebert Williams Shank dropped their target price on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Mizuho dropped their target price on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

About Devon Energy

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.