Focus Partners Advisor Solutions LLC Raises Stock Holdings in Devon Energy Corporation $DVN

Focus Partners Advisor Solutions LLC increased its position in Devon Energy Corporation (NYSE:DVN) by 344.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,200 shares of the energy company’s stock after purchasing an additional 28,839 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Devon Energy were worth $1,183,000 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. Fielder Capital Group LLC grew its stake in Devon Energy by 36.6% in the second quarter. Fielder Capital Group LLC now owns 7,660 shares of the energy company’s stock worth $244,000 after purchasing an additional 2,052 shares during the period. Keeler Thomas Management LLC purchased a new stake in shares of Devon Energy in the second quarter worth $843,000. Richards Merrill & Peterson Inc. grew its stake in shares of Devon Energy by 39.0% in the second quarter. Richards Merrill & Peterson Inc. now owns 7,338 shares of the energy company’s stock worth $233,000 after acquiring an additional 2,059 shares during the last quarter. CNB Bank grew its stake in shares of Devon Energy by 16.2% in the second quarter. CNB Bank now owns 5,812 shares of the energy company’s stock worth $185,000 after acquiring an additional 812 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co grew its stake in shares of Devon Energy by 29.3% in the second quarter. PKO Investment Management Joint Stock Co now owns 17,661 shares of the energy company’s stock worth $562,000 after acquiring an additional 4,000 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.1%

DVN stock opened at $32.95 on Tuesday. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $40.54. The business’s 50-day moving average is $34.42 and its two-hundred day moving average is $33.06. 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 company has a market cap of $20.91 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 2.55 and a beta of 1.03.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. Devon Energy’s revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

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

Insider Activity 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 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 $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 Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on DVN. Bernstein Bank cut their target price on Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price target (up from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Tudor, Pickering, Holt & Co. upped their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Finally, BMO Capital Markets upped their price target on Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $43.14.

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.