Devon Energy Corporation (NYSE:DVN) Stock Position Raised by Value Holdings Management CO. LLC

Value Holdings Management CO. LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 26.2% in the 1st quarter, Holdings Channel reports. The firm owned 79,500 shares of the energy company’s stock after acquiring an additional 16,500 shares during the quarter. Devon Energy comprises approximately 0.6% of Value Holdings Management CO. LLC’s holdings, making the stock its 28th biggest position. Value Holdings Management CO. LLC’s holdings in Devon Energy were worth $2,974,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new position in shares of Devon Energy during the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy during the first quarter valued at approximately $26,000. Accredited Wealth Management LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. grew its holdings in shares of Devon Energy by 94.6% during 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 last quarter. Finally, SouthState Corp grew its holdings in shares of Devon Energy by 350.5% during the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after purchasing an additional 771 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America lowered their target price on Devon Energy from $52.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Siebert Williams Shank increased their price objective on Devon Energy from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. The Goldman Sachs Group increased their price objective on Devon Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $46.00 price objective (up from $44.00) on shares of Devon Energy in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $43.93.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $33.70 on Friday. The stock has a fifty day moving average price of $33.25 and a two-hundred day moving average price of $33.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market cap of $21.39 billion, a P/E ratio of 7.56, a PEG ratio of 1.91 and a beta of 1.07. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $46.04.

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

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Devon Energy’s dividend payout ratio is 21.52%.

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.