Devon Energy Corporation $DVN Shares Purchased by Van Den Berg Management I Inc.

Van Den Berg Management I Inc. lifted its holdings in Devon Energy Corporation (NYSE:DVN) by 117.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 62,891 shares of the energy company’s stock after purchasing an additional 33,918 shares during the quarter. Van Den Berg Management I Inc.’s holdings in Devon Energy were worth $2,599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tobam raised its stake in shares of Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after buying an additional 230 shares during the period. TD Private Client Wealth LLC grew its stake in Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after acquiring an additional 236 shares during the period. Retirement Planning Group LLC grew its stake in Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after acquiring an additional 243 shares during the period. JFS Wealth Advisors LLC grew 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 valued at $28,000 after acquiring an additional 245 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In other news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction 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 owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.58% of the stock is owned by corporate insiders.

Devon Energy Price Performance

Shares of DVN stock opened at $47.42 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The firm’s 50-day moving average is $44.19 and its two-hundred day moving average is $45.62. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a market capitalization of $52.16 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.30 and a beta of 0.38.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the firm earned $0.84 EPS. The business’s revenue was up 73.1% compared to the same quarter last year. Analysts predict that Devon Energy Corporation will post 5.2 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s payout ratio is currently 30.40%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DVN. Truist Financial upped their price objective on shares of Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup upped their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the company an “outperform” rating in a research note on Monday, June 22nd. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Susquehanna lifted their price objective on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.15.

About Devon Energy

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.