Devon Energy (NYSE:DVN) EVP Sells 6,756 Shares

Devon Energy Corporation (NYSE:DVN) EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the transaction, the executive vice president owned 72,720 shares of the company’s stock, valued at $3,705,084. The trade was a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Devon Energy Stock Down 1.0%

Shares of NYSE:DVN traded down $0.50 during trading on Monday, reaching $49.73. 14,588,644 shares of the stock traded hands, compared to its average volume of 10,111,569. The stock has a market cap of $54.70 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a 50-day moving average of $45.80 and a two-hundred day moving average of $46.01. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 73.1% compared to the same quarter last year. As a group, sell-side analysts expect that Devon Energy Corporation will post 5.24 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DVN. Weiss Ratings upgraded Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Seaport Research Partners initiated coverage on Devon Energy in a research report on Thursday, September 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Wells Fargo & Company cut their price target on Devon Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Evercore upgraded Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 target price for the company in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.76.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy during the 4th quarter valued at $25,000. JFS Wealth Advisors LLC increased its stake in Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares during the period. Parvin Asset Management LLC bought a new stake in Devon Energy during the 2nd quarter valued at about $28,000. MV Capital Management Inc. purchased a new stake in Devon Energy in the 4th quarter valued at about $29,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Devon Energy in the 2nd quarter worth about $29,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company also gathers, processes and transports hydrocarbons through related midstream infrastructure and markets its production to customers in the United States.

Devon’s operations are concentrated in U.S. onshore basins, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.