18,974 Shares of Devon Energy Corporation $DVN Bought by Sunesis Advisors LLC

Sunesis Advisors LLC purchased a new position in shares of Devon Energy Corporation (NYSE:DVN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,974 shares of the energy company’s stock, valued at approximately $874,000. Devon Energy accounts for about 0.5% of Sunesis Advisors LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of DVN. Premier Financial Group purchased a new position in Devon Energy in the 2nd quarter valued at approximately $25,000. Financial Management Professionals Inc. grew its stake in shares of Devon Energy by 119.0% in the third quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock worth $27,000 after acquiring an additional 313 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after acquiring an additional 245 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Devon Energy during the second quarter worth $28,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Devon Energy during the second quarter worth $29,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.5%

NYSE DVN opened at $51.62 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 52 week low of $31.65 and a 52 week high of $52.71. The stock has a market capitalization of $56.79 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The firm has a 50 day moving average of $48.65 and a two-hundred day moving average of $45.52.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the prior year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 73.1% compared to the same quarter last year. As a group, research analysts expect that Devon Energy Corporation will post 5.49 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Devon Energy’s payout ratio is presently 30.40%.

Insiders Place Their Bets

In other Devon Energy news, CEO Clay Gaspar bought 3,913 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This represents a 0.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s 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 completion of the sale, the executive vice president owned 72,720 shares in the company, valued at approximately $3,705,084. This represents a 8.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of several analyst reports. Citigroup increased their price objective on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. UBS Group boosted their target price on Devon Energy from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. The Goldman Sachs Group cut their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Seaport Research Partners started coverage on Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.72.

About Devon Energy

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.