Ransom Advisory Ltd Sells 900 Shares of Devon Energy Corporation $DVN

Ransom Advisory Ltd reduced its holdings in Devon Energy Corporation (NYSE:DVN) by 40.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,346 shares of the energy company’s stock after selling 900 shares during the quarter. Ransom Advisory Ltd’s holdings in Devon Energy were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DVN. Ameriprise Financial Inc. increased its stake in Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after acquiring an additional 2,252,918 shares during the last quarter. Vanguard Group Inc. increased its stake in Devon Energy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares during the last quarter. Nuveen LLC bought a new position in Devon Energy in the 1st quarter worth about $69,975,000. AQR Capital Management LLC increased its stake in Devon Energy by 100.0% in the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock worth $132,051,000 after acquiring an additional 1,779,382 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Devon Energy by 530.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock worth $77,323,000 after acquiring an additional 1,739,436 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value 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 trade represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.73% of the company’s stock.

Devon Energy Trading Down 1.4%

Shares of DVN stock opened at $34.81 on Monday. The stock has a market capitalization of $22.10 billion, a PE ratio of 7.80, a P/E/G ratio of 2.00 and a beta of 1.09. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $43.29. The business has a 50-day moving average of $33.91 and a 200 day moving average of $33.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last issued 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. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.Devon Energy’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on DVN. Wolfe Research upped their target price on Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, June 23rd. Raymond James Financial reiterated 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. Bernstein Bank cut their price objective on Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 7th. Wells Fargo & Company upped their price objective on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Finally, Jefferies Financial Group upped their price objective on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.15.

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.