Venturi Wealth Management LLC Grows Holdings in Devon Energy Corporation $DVN

Venturi Wealth Management LLC increased its position in Devon Energy Corporation (NYSE:DVN) by 31.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,430 shares of the energy company’s stock after purchasing an additional 1,769 shares during the period. Venturi Wealth Management LLC’s holdings in Devon Energy were worth $236,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Devon Energy by 10.8% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company’s stock worth $10,210,000 after purchasing an additional 26,519 shares in the last quarter. Autumn Glory Partners LLC boosted its stake in Devon Energy by 93.6% in the 1st quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company’s stock worth $1,547,000 after purchasing an additional 20,000 shares in the last quarter. Intact Investment Management Inc. bought a new position in Devon Energy in the 1st quarter worth about $2,524,000. Praxis Investment Management Inc. boosted its stake in Devon Energy by 41.8% in the 1st quarter. Praxis Investment Management Inc. now owns 47,000 shares of the energy company’s stock worth $1,758,000 after purchasing an additional 13,860 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Devon Energy by 38.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 847,759 shares of the energy company’s stock worth $31,850,000 after purchasing an additional 236,624 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. BMO Capital Markets upped their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Wolfe Research upped their target price on shares of Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, June 23rd. Bernstein Bank lowered 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 note on Monday, July 7th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Thursday. Finally, Siebert Williams Shank upped their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.81.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction that occurred on 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 owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $32.54 on Friday. The firm’s 50 day moving average price is $34.53 and its 200-day moving average price is $33.10. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $43.29. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $20.65 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm 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. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. 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.