Nepsis Inc. Sells 83,226 Shares of Devon Energy Corporation $DVN

Nepsis Inc. lowered its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 18.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,177 shares of the energy company’s stock after selling 83,226 shares during the period. Devon Energy makes up 5.2% of Nepsis Inc.’s holdings, making the stock its 7th largest position. Nepsis Inc. owned approximately 0.06% of Devon Energy worth $15,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy during the fourth quarter valued at $25,000. JFS Wealth Advisors LLC lifted its holdings in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares during the period. MV Capital Management Inc. acquired a new stake in Devon Energy in the fourth quarter worth about $29,000. KERR FINANCIAL PLANNING Corp bought a new position in Devon Energy in the 2nd quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Devon Energy in the 4th quarter valued at about $29,000. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In related news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Citigroup raised their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Susquehanna boosted their target price on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley cut their target price on Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average target price of $59.60.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $44.87 on Thursday. 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 company’s 50-day moving average price is $43.40 and its two-hundred day moving average price is $45.09. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The stock has a market cap of $27.88 billion, a PE ratio of 10.66 and a beta of 0.38.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business’s revenue for the quarter was up 73.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 4.91 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.9%. Devon Energy’s dividend payout ratio is currently 30.40%.

Devon Energy Profile

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.