Philip James Wealth Mangement LLC Acquires 10,834 Shares of Devon Energy Corporation $DVN

Philip James Wealth Mangement LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,634 shares of the energy company’s stock after purchasing an additional 10,834 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Devon Energy were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. SVB Wealth LLC lifted its stake in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after purchasing an additional 321 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after buying an additional 377 shares during the period. Callan Family Office LLC lifted its stake in shares of Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after acquiring an additional 377 shares during the last quarter. Hager Investment Management Services LLC lifted its stake in shares of Devon Energy by 9.9% during the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock worth $158,000 after acquiring an additional 380 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Devon Energy by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after acquiring an additional 386 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy 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 in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $45.00 target price (up from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. UBS Group raised their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Siebert Williams Shank lifted their price objective on shares of Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, June 23rd. 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. Finally, Bernstein Bank reduced their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 7th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $43.81.

Devon Energy Trading Up 0.7%

NYSE DVN opened at $35.32 on Thursday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. 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 capitalization of $22.42 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. The company’s 50-day simple moving average is $34.39 and its two-hundred day simple moving average is $33.19.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. Equities analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio is 21.52%.

Devon Energy 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.