Devon Energy Corporation $DVN Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC reduced its stake in Devon Energy Corporation (NYSE:DVN) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,143 shares of the energy company’s stock after selling 1,104 shares during the period. Ballentine Partners LLC’s holdings in Devon Energy were worth $323,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DVN. Two Sigma Investments LP purchased a new stake in Devon Energy in the fourth quarter valued at $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Devon Energy during the fourth quarter worth about $7,795,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Devon Energy by 94.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 8,689 shares of the energy company’s stock valued at $325,000 after purchasing an additional 4,212 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Devon Energy by 128.9% in the 1st quarter. Versant Capital Management Inc now owns 2,635 shares of the energy company’s stock valued at $99,000 after purchasing an additional 1,484 shares during the period. Finally, GAMMA Investing LLC grew its stake in Devon Energy by 6,068.1% during the 1st quarter. GAMMA Investing LLC now owns 726,607 shares of the energy company’s stock worth $27,175,000 after buying an additional 714,827 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Devon Energy Stock Performance

NYSE DVN opened at $36.97 on Monday. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 2.14 and a beta of 1.09. The business’s 50 day moving average is $34.23 and its two-hundred day moving average is $33.15. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $43.29. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio is 21.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DVN. Wells Fargo & Company increased their price objective on Devon Energy from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. Morgan Stanley increased their price target on shares of Devon Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Friday, July 11th. Wolfe Research upped their target price on shares of Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, June 23rd. Finally, William Blair began coverage on Devon Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.04.

Devon Energy Company 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.