Stiles Financial Services Inc Buys 1,347 Shares of Devon Energy Corporation $DVN

Stiles Financial Services Inc raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 58,986 shares of the energy company’s stock after purchasing an additional 1,347 shares during the quarter. Stiles Financial Services Inc’s holdings in Devon Energy were worth $1,876,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Devon Energy by 2.6% during 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 period. Victory Capital Management Inc. grew its holdings in Devon Energy by 12.9% during the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock worth $430,805,000 after acquiring an additional 1,315,050 shares during the period. Northern Trust Corp grew its holdings in Devon Energy by 5.1% during the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after acquiring an additional 316,460 shares during the period. Ameriprise Financial Inc. grew its holdings in Devon Energy by 81.1% during 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 period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Devon Energy by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock worth $176,036,000 after acquiring an additional 354,633 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Devon Energy stock opened at $34.37 on Friday. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $43.29. The company’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $33.14. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The stock has a market cap of $21.82 billion, a P/E ratio of 7.71, a P/E/G ratio of 2.04 and a beta of 1.03.

Devon Energy (NYSE:DVN) last posted 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. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler decreased their price target on Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Devon Energy in a research note on Wednesday. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Thursday. Jefferies Financial Group raised their target price on Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Finally, Mizuho reduced their target price on Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $43.74.

Insider Activity at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

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.