Devon Energy Corporation $DVN Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871,011 shares of the energy company’s stock after selling 26,667 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Devon Energy were worth $36,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. 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 valued at $60,000 after buying an additional 230 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after buying an additional 236 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in Devon Energy by 56.6% during 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 during the period. Catalyst Financial Partners LLC grew its holdings in Devon Energy by 3.9% during the fourth 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 during the period. Finally, Cary Street Partners Investment Advisory LLC raised its position in Devon Energy by 21.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after acquiring an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. UBS Group decreased their price objective on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Morgan Stanley lowered their target price on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Finally, Capital One Financial dropped their target price on Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.60.

Insider Buying and Selling

In related news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.58% of the stock is owned by corporate insiders.

Devon Energy Stock Down 0.8%

NYSE DVN opened at $44.48 on Friday. The business has a fifty day moving average price of $43.37 and a 200 day moving average price of $45.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The company has a market cap of $48.93 billion, a P/E ratio of 10.57 and a beta of 0.38. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. Devon Energy’s quarterly revenue was up 73.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Research analysts anticipate that Devon Energy Corporation will post 4.95 EPS for the current fiscal 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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Devon Energy Profile

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.