Devon Energy Corporation $DVN Stake Lifted by Stephens Inc. AR

Stephens Inc. AR raised its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 90.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 72,546 shares of the energy company’s stock after purchasing an additional 34,448 shares during the quarter. Stephens Inc. AR’s holdings in Devon Energy were worth $2,308,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Devon Energy during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy during the first quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Devon Energy during the second quarter worth approximately $25,000. Trust Co. of Vermont boosted its holdings in Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after buying an additional 666 shares in the last quarter. Finally, SouthState Corp boosted its holdings in Devon Energy by 350.5% during the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after buying an additional 771 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 1.1%

DVN stock opened at $32.43 on Thursday. The firm has a market cap of $20.58 billion, a PE ratio of 7.27, a PEG ratio of 1.91 and a beta of 1.03. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54. 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 company has a fifty day simple moving average of $34.46 and a 200 day simple moving average of $32.91.

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

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DVN shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Devon Energy in a research note on Wednesday, October 8th. Susquehanna decreased their price objective on shares of Devon Energy to $41.00 and set a “positive” rating for the company in a research note on Monday. Tudor, Pickering, Holt & Co. raised their price objective on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Roth Capital started coverage on shares of Devon Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price objective on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction 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 sale, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

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.