Devon Energy Corporation $DVN Shares Sold by Full Sail Capital LLC

Full Sail Capital LLC cut its stake in Devon Energy Corporation (NYSE:DVN) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,436 shares of the energy company’s stock after selling 2,196 shares during the quarter. Full Sail Capital LLC’s holdings in Devon Energy were worth $951,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in Devon Energy in the 1st quarter worth $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy during the 1st quarter worth approximately $26,000. Accredited Wealth Management LLC purchased a new stake in Devon Energy in the 4th quarter valued at $28,000. Rakuten Securities Inc. grew its holdings in shares of Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock valued at $31,000 after purchasing an additional 405 shares during the period. Finally, SouthState Corp increased its holdings in shares of Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after buying an additional 771 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $35.1250 on Monday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $46.04. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $33.25 and a two-hundred day moving average price of $33.13. The company has a market capitalization of $22.30 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07.

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

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date is 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 (DPR) is 21.52%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Devon Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. The Goldman Sachs Group increased their price target on Devon Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. UBS Group boosted their target price on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Jefferies Financial Group raised their price objective on shares of Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company upped their target price on Devon Energy from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.15.

Devon Energy Company 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.