Mark Sheptoff Financial Planning LLC Decreases Stock Holdings in Devon Energy Corporation $DVN

Mark Sheptoff Financial Planning LLC trimmed its position in shares of Devon Energy Corporation (NYSE:DVN) by 19.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,800 shares of the energy company’s stock after selling 4,050 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Devon Energy were worth $534,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DVN. Metis Global Partners LLC raised its position in Devon Energy by 2.7% during the 2nd quarter. Metis Global Partners LLC now owns 34,995 shares of the energy company’s stock valued at $1,113,000 after purchasing an additional 917 shares during the last quarter. Wedbush Securities Inc. increased its stake in shares of Devon Energy by 2.3% during the second quarter. Wedbush Securities Inc. now owns 27,346 shares of the energy company’s stock valued at $870,000 after buying an additional 611 shares during the period. Pekin Hardy Strauss Inc. raised its holdings in shares of Devon Energy by 10.5% during the second quarter. Pekin Hardy Strauss Inc. now owns 230,529 shares of the energy company’s stock valued at $7,333,000 after acquiring an additional 21,950 shares in the last quarter. Savant Capital LLC lifted its stake in Devon Energy by 219.2% in the second quarter. Savant Capital LLC now owns 221,685 shares of the energy company’s stock worth $7,052,000 after acquiring an additional 152,239 shares during the period. Finally, Twin Capital Management Inc. boosted its holdings in Devon Energy by 3.9% in the second quarter. Twin Capital Management Inc. now owns 30,312 shares of the energy company’s stock valued at $964,000 after acquiring an additional 1,142 shares in the last quarter. 69.72% of the stock is owned by 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 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 transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.

Devon Energy Trading Up 3.9%

Shares of NYSE DVN opened at $33.68 on Friday. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $39.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a 50-day moving average of $33.97 and a 200 day moving average of $33.24. The stock has a market cap of $21.38 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, sell-side analysts expect 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, December 30th. Investors of record on Monday, December 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DVN. BMO Capital Markets boosted their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. William Blair started coverage on shares of Devon Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. Raymond James Financial restated an “outperform” rating and issued a $45.00 price objective (up from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. Finally, UBS Group lifted their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $43.04.

About Devon Energy

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.