Dynamic Advisor Solutions LLC Grows Position in Devon Energy Co. (NYSE:DVN)

Dynamic Advisor Solutions LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVNGet Rating) by 113.5% during the 1st quarter, Holdings Channel reports. The firm owned 22,983 shares of the energy company’s stock after acquiring an additional 12,216 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Devon Energy were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Oakworth Capital Inc. purchased a new stake in Devon Energy during the 1st quarter worth approximately $359,000. Veriti Management LLC grew its position in Devon Energy by 14.0% during the 1st quarter. Veriti Management LLC now owns 21,548 shares of the energy company’s stock worth $1,274,000 after purchasing an additional 2,639 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in Devon Energy during the 1st quarter worth approximately $661,000. First International Bank & Trust purchased a new stake in Devon Energy during the 1st quarter worth approximately $332,000. Finally, Diversified Trust Co purchased a new stake in Devon Energy during the 1st quarter worth approximately $290,000. 87.01% of the stock is currently owned by institutional investors.

Several research firms have recently commented on DVN. Credit Suisse Group upped their price objective on shares of Devon Energy from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 9th. Susquehanna upped their price objective on shares of Devon Energy from $62.00 to $73.00 in a report on Monday, April 25th. Raymond James upped their price objective on shares of Devon Energy from $90.00 to $102.00 in a report on Thursday, June 9th. Susquehanna Bancshares upped their price objective on shares of Devon Energy from $62.00 to $73.00 in a report on Monday, April 25th. Finally, StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average price target of $74.94.

Shares of NYSE DVN opened at $57.55 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.32 and a current ratio of 1.32. The company’s fifty day moving average price is $67.24 and its 200 day moving average price is $57.46. The company has a market capitalization of $37.98 billion, a PE ratio of 10.80 and a beta of 2.59. Devon Energy Co. has a 1 year low of $24.05 and a 1 year high of $79.40.

Devon Energy (NYSE:DVNGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The energy company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.14. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Devon Energy had a net margin of 25.69% and a return on equity of 36.57%. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities analysts expect that Devon Energy Co. will post 9.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 10th. This is a boost from Devon Energy’s previous quarterly dividend of $1.00. This represents a $5.08 dividend on an annualized basis and a yield of 8.83%. Devon Energy’s dividend payout ratio is currently 95.31%.

Devon Energy announced that its Board of Directors has approved a share buyback plan on Monday, May 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the energy company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Dennis C. Cameron sold 4,143 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $61.45, for a total value of $254,587.35. Following the completion of the sale, the executive vice president now directly owns 284,806 shares in the company, valued at $17,501,328.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis C. Cameron sold 19,580 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $68.22, for a total transaction of $1,335,747.60. Following the completion of the sale, the executive vice president now owns 274,806 shares of the company’s stock, valued at $18,747,265.32. The disclosure for this sale can be found here. Insiders have sold 64,922 shares of company stock valued at $4,269,519 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Devon Energy Profile (Get Rating)

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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