MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Holdings in Devon Energy Corporation $DVN

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Devon Energy Corporation (NYSE:DVN) by 69.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,321 shares of the energy company’s stock after selling 194,989 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Devon Energy were worth $3,153,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NorthRock Partners LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at $365,000. Nissay Asset Management Corp Japan ADV raised its stake in shares of Devon Energy by 0.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 75,060 shares of the energy company’s stock valued at $2,342,000 after acquiring an additional 664 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at $317,000. Quantinno Capital Management LP raised its stake in shares of Devon Energy by 28.2% in the fourth quarter. Quantinno Capital Management LP now owns 57,628 shares of the energy company’s stock valued at $1,886,000 after acquiring an additional 12,671 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Devon Energy by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 159,984 shares of the energy company’s stock valued at $5,236,000 after acquiring an additional 10,205 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction 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 in the company, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DVN. Raymond James Financial restated an “outperform” rating and issued a $45.00 price target (up from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Barclays raised their price objective on Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. William Blair initiated coverage on shares of Devon Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Piper Sandler reduced their price objective on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.15.

Devon Energy Stock Down 1.4%

DVN stock opened at $34.81 on Friday. The stock has a market capitalization of $22.10 billion, a P/E ratio of 7.80, a PEG ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. The company has a 50 day moving average price of $33.91 and a two-hundred day moving average price of $33.15.

Devon Energy (NYSE:DVN) last released 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. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. Devon Energy’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. As a group, sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm 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 dividend yield of 2.8%. Devon Energy’s payout ratio is presently 21.52%.

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.