Cliftonlarsonallen Wealth Advisors LLC Has $3.18 Million Stock Holdings in Devon Energy Corporation $DVN

Cliftonlarsonallen Wealth Advisors LLC increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,808 shares of the energy company’s stock after buying an additional 994 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Devon Energy were worth $3,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy in the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Devon Energy during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in Devon Energy during the second quarter worth $25,000. Rakuten Securities Inc. lifted its stake in shares of Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock valued at $31,000 after buying an additional 405 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after buying an additional 666 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DVN shares. Barclays upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Mizuho lowered their price objective on Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Siebert Williams Shank raised their target price on Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company increased their price target on Devon Energy from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.81.

Devon Energy Stock Performance

Shares of DVN opened at $35.32 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 2.03 and a beta of 1.03. The stock has a 50 day moving average of $34.39 and a 200 day moving average of $33.19. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s payout ratio is 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.