111 Capital Purchases 19,953 Shares of Devon Energy Corporation $DVN

111 Capital raised its position in shares of Devon Energy Corporation (NYSE:DVN) by 319.5% in the second quarter, Holdings Channel reports. The fund owned 26,199 shares of the energy company’s stock after buying an additional 19,953 shares during the quarter. 111 Capital’s holdings in Devon Energy were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Devon Energy by 2.6% in the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after buying an additional 2,098,568 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock valued at $430,805,000 after buying an additional 1,315,050 shares during the period. Northern Trust Corp lifted its stake in shares of Devon Energy by 5.1% in the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock valued at $245,987,000 after buying an additional 316,460 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after buying an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Devon Energy by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after buying an additional 354,633 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DVN. Jefferies Financial Group increased their target price on shares of Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Mizuho dropped their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a research report on Saturday, September 27th. William Blair started coverage on shares of Devon Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Barclays increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Sixteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average 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 Devon Energy stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $34.56 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market cap of $21.94 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.00 and a beta of 1.03. The firm has a 50 day simple moving average of $34.44 and a 200 day simple moving average of $33.16. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $43.29.

Devon Energy (NYSE:DVN) last announced 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. 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 period last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

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.