Insider Selling: Devon Energy (NYSE:DVN) SVP Sells $841,320.00 in Stock

Devon Energy Corporation (NYSE:DVN) SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $45.26 on Monday. Devon Energy Corporation has a 1 year low of $31.45 and a 1 year high of $52.71. The firm has a market cap of $28.13 billion, a P/E ratio of 12.61 and a beta of 0.38. The stock has a fifty day moving average price of $47.04 and a two-hundred day moving average price of $43.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. Research analysts forecast that Devon Energy Corporation will post 4.73 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.8%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is presently 26.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DVN shares. Scotiabank raised their price objective on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho boosted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Wednesday. Roth Mkm restated a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, April 28th. Finally, Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $58.67.

Institutional Trading of Devon Energy

Several large investors have recently added to or reduced their stakes in DVN. Pine Valley Investments Ltd Liability Co boosted its position in shares of Devon Energy by 467.3% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 51,553 shares of the energy company’s stock worth $2,594,000 after buying an additional 42,465 shares during the period. Parallel Advisors LLC raised its position in Devon Energy by 21.3% during the first quarter. Parallel Advisors LLC now owns 19,754 shares of the energy company’s stock valued at $994,000 after buying an additional 3,469 shares during the period. NewEdge Advisors LLC lifted its stake in Devon Energy by 13.6% in the 1st quarter. NewEdge Advisors LLC now owns 130,940 shares of the energy company’s stock worth $6,589,000 after acquiring an additional 15,705 shares in the last quarter. Financial Solutions Advisory Group Inc. acquired a new stake in Devon Energy during the 1st quarter worth about $230,000. Finally, Cozad Asset Management Inc. grew its stake in Devon Energy by 11.3% during the 1st quarter. Cozad Asset Management Inc. now owns 68,945 shares of the energy company’s stock valued at $3,469,000 after acquiring an additional 7,000 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

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.