Devon Energy Co. (NYSE:DVN) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lessened its holdings in shares of Devon Energy Co. (NYSE:DVN – Get Rating) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,469 shares of the energy company’s stock after selling 276 shares during the period. Moody National Bank Trust Division’s holdings in Devon Energy were worth $767,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. AlphaCrest Capital Management LLC purchased a new position in shares of Devon Energy in the 1st quarter valued at about $364,000. Acadian Asset Management LLC acquired a new position in Devon Energy during the first quarter worth about $188,000. Blair William & Co. IL increased its holdings in Devon Energy by 52.1% in the first quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock valued at $5,861,000 after buying an additional 33,936 shares in the last quarter. Sei Investments Co. increased its holdings in Devon Energy by 9.2% in the first quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock valued at $24,500,000 after buying an additional 34,870 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Devon Energy during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Insider Activity at Devon Energy

In related news, CEO Richard E. Muncrief purchased 10,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were bought at an average price of $53.28 per share, with a total value of $532,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,973,977 shares in the company, valued at approximately $105,173,494.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard E. Muncrief bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were acquired at an average cost of $53.28 per share, with a total value of $532,800.00. Following the transaction, the chief executive officer now owns 1,973,977 shares of the company’s stock, valued at approximately $105,173,494.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John E. Bethancourt purchased 3,765 shares of the stock in a transaction on Friday, February 17th. The shares were purchased at an average cost of $53.06 per share, with a total value of $199,770.90. Following the transaction, the director now owns 94,669 shares of the company’s stock, valued at approximately $5,023,137.14. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DVN shares. Citigroup dropped their price objective on Devon Energy from $77.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. StockNews.com began coverage on Devon Energy in a research report on Thursday. They issued a “hold” rating for the company. Raymond James decreased their price objective on shares of Devon Energy from $80.00 to $67.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, February 22nd. Barclays dropped their target price on shares of Devon Energy from $82.00 to $67.00 in a report on Friday. Finally, Truist Financial reduced their price target on shares of Devon Energy from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.42.

Devon Energy Trading Down 0.3 %

Shares of DVN opened at $46.15 on Friday. Devon Energy Co. has a fifty-two week low of $44.03 and a fifty-two week high of $79.40. The stock has a fifty day moving average of $58.47 and a two-hundred day moving average of $64.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.19 and a current ratio of 1.25. The company has a market capitalization of $30.18 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.13 and a beta of 2.33.

Devon Energy (NYSE:DVN – Get Rating) last released its earnings results on Wednesday, February 15th. The energy company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.09). The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.29 billion. Devon Energy had a net margin of 31.38% and a return on equity of 52.20%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, analysts forecast that Devon Energy Co. will post 6.96 EPS for the current year.

Devon Energy Increases Dividend

The business also recently announced a None dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $0.89 dividend. The ex-dividend date is Tuesday, March 14th. This is a boost from Devon Energy’s previous None dividend of $0.49. This represents a dividend yield of 9.3%. Devon Energy’s dividend payout ratio (DPR) is currently 8.77%.

Devon Energy Company Profile

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.