Devon Energy Corporation $DVN Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,574 shares of the energy company’s stock after acquiring an additional 1,970 shares during the period. Park Avenue Securities LLC’s holdings in Devon Energy were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SVB Wealth LLC lifted its position in shares of Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after acquiring an additional 321 shares during the period. Whittier Trust Co. lifted its position in shares of Devon Energy by 24.3% during the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after acquiring an additional 377 shares during the period. Callan Family Office LLC lifted its position in shares of Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after acquiring an additional 377 shares during the period. Hager Investment Management Services LLC lifted its position in shares of Devon Energy by 9.9% during the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock valued at $158,000 after acquiring an additional 380 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Devon Energy by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after acquiring an additional 386 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the business’s 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 completion of the sale, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DVN shares. Jefferies Financial Group lifted their price objective on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, July 14th. BMO Capital Markets lifted their price objective on Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Wolfe Research lifted their price objective on Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, June 23rd. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research report on Friday, July 11th. Finally, UBS Group lifted their price objective on Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.04.

Devon Energy Stock Up 3.4%

Shares of NYSE DVN opened at $36.97 on Monday. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $43.29. The firm has a fifty day moving average of $34.23 and a 200-day moving average of $33.15. The stock has a market capitalization of $23.47 billion, a PE ratio of 8.29, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company earned $1.41 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. Devon Energy’s payout ratio is currently 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.