Kestra Advisory Services LLC Acquires 20,727 Shares of Devon Energy Corporation $DVN

Kestra Advisory Services LLC boosted its stake in Devon Energy Corporation (NYSE:DVN) by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,953 shares of the energy company’s stock after purchasing an additional 20,727 shares during the period. Kestra Advisory Services LLC’s holdings in Devon Energy were worth $6,036,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DVN. Wedge Capital Management L L P NC bought a new stake in Devon Energy in the fourth quarter valued at approximately $9,931,000. Investors Research Corp raised its holdings in Devon Energy by 13,787.5% during the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after purchasing an additional 27,575 shares during the last quarter. Philip James Wealth Mangement LLC raised its holdings in Devon Energy by 43.8% during the 4th quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock worth $5,911,000 after purchasing an additional 49,115 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $2,089,000. Finally, LSV Asset Management lifted its position in shares of Devon Energy by 79.6% in the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock worth $29,289,000 after purchasing an additional 354,500 shares during the period. 69.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 112,371 shares of company stock worth $5,258,059. 4.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DVN has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada upped their price target on shares of Devon Energy from $46.00 to $59.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Wolfe Research set a $67.00 price target on Devon Energy and gave the stock an “outperform” rating in a report on Monday, June 22nd. Finally, Capital One Financial lowered their price objective on Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $59.40.

Devon Energy Trading Down 1.1%

DVN opened at $42.93 on Thursday. The company has a fifty day moving average price of $44.46 and a two-hundred day moving average price of $44.02. Devon Energy Corporation has a 1-year low of $31.45 and a 1-year high of $52.71. The company has a market cap of $26.68 billion, a P/E ratio of 11.96 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (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%.Devon Energy’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts predict that Devon Energy Corporation will post 4.71 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.0%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio is currently 35.65%.

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.