Doliver Advisors LP Has $1.36 Million Position in Devon Energy Corporation $DVN

Doliver Advisors LP boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 145.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 32,840 shares of the energy company’s stock after purchasing an additional 19,468 shares during the period. Doliver Advisors LP’s holdings in Devon Energy were worth $1,357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy in the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Devon Energy during the 2nd quarter valued at $29,000. GoalVest Advisory LLC bought a new position in shares of Devon Energy during the 2nd quarter valued at $30,000. SouthState Bank Corp lifted its stake in shares of Devon Energy by 173.6% in the 1st quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock valued at $39,000 after purchasing an additional 486 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Devon Energy in the 4th quarter valued at $29,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Capital One Financial decreased their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their price target on Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group decreased their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. UBS Group lowered their price objective on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, Wells Fargo & Company increased their price objective on Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.72.

Insider Activity

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the transaction, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is currently owned by insiders.

Devon Energy Price Performance

NYSE DVN opened at $45.37 on Wednesday. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71. The company has a fifty day simple moving average of $43.43 and a 200 day simple moving average of $45.04. 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 has a market cap of $28.19 billion, a P/E ratio of 10.78 and a beta of 0.38.

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

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

Devon Energy Company 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.