Westwind Capital Has $1.14 Million Position in Devon Energy Corporation $DVN

Westwind Capital increased its stake in Devon Energy Corporation (NYSE:DVN) by 1,300.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,637 shares of the energy company’s stock after purchasing an additional 25,664 shares during the quarter. Westwind Capital’s holdings in Devon Energy were worth $1,142,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $25,000. JFS Wealth Advisors LLC boosted its holdings in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares during the period. MV Capital Management Inc. bought a new stake in shares of Devon Energy during the 4th quarter worth $29,000. KERR FINANCIAL PLANNING Corp acquired a new position in Devon Energy in the 2nd quarter valued at $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Devon Energy in the 4th quarter valued at $29,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Scotiabank raised their price target on Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Morgan Stanley dropped their price objective on Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Capital One Financial cut their price objective on Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their target price on Devon Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $59.60.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.58% of the stock is currently owned by company insiders.

Devon Energy Trading Down 0.8%

Devon Energy stock opened at $44.48 on Friday. The business has a 50 day moving average price of $43.37 and a two-hundred day moving average price of $45.13. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The stock has a market cap of $48.93 billion, a price-to-earnings ratio of 10.57 and a beta of 0.38. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the company earned $0.84 EPS. The company’s quarterly revenue was up 73.1% on a year-over-year basis. As a group, equities analysts forecast that Devon Energy Corporation will post 4.95 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.