Devon Energy Corporation $DVN Shares Bought by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. lifted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 13.6% during the second quarter, Holdings Channel reports. The firm owned 42,085 shares of the energy company’s stock after buying an additional 5,031 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Devon Energy were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after buying an additional 2,098,568 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Devon Energy by 12.9% during the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock worth $430,805,000 after acquiring an additional 1,315,050 shares during the last quarter. Northern Trust Corp grew its position in shares of Devon Energy by 5.1% during the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after acquiring an additional 316,460 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after acquiring an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Devon Energy by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after buying an additional 354,633 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 1.0%

Shares of NYSE:DVN opened at $34.91 on Tuesday. The company’s fifty day moving average is $34.46 and its 200-day moving average is $33.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $43.29. The company has a market capitalization of $22.16 billion, a PE ratio of 7.83, a P/E/G ratio of 2.00 and a beta of 1.03.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Equities research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is 21.52%.

Insiders Place Their Bets

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. Piper Sandler dropped their price target on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Friday, July 11th. William Blair initiated coverage on Devon Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. UBS Group upped their target price on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a report on Saturday, September 27th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.56.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.