Accel Wealth Management Acquires 780 Shares of Devon Energy Corporation $DVN

Accel Wealth Management lifted its position in Devon Energy Corporation (NYSE:DVN) by 6.4% during the 2nd quarter, Holdings Channel reports. The firm owned 12,897 shares of the energy company’s stock after acquiring an additional 780 shares during the period. Accel Wealth Management’s holdings in Devon Energy were worth $410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DVN. Two Sigma Investments LP bought a new position in shares of Devon Energy in the fourth quarter worth approximately $256,000. NBC Securities Inc. grew its holdings in shares of Devon Energy by 122,633.3% in the first quarter. NBC Securities Inc. now owns 3,682 shares of the energy company’s stock worth $137,000 after purchasing an additional 3,679 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Devon Energy by 209.5% in the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company’s stock worth $848,000 after purchasing an additional 15,351 shares during the last quarter. Signal Advisors Wealth LLC grew its holdings in shares of Devon Energy by 11.6% in the first quarter. Signal Advisors Wealth LLC now owns 9,462 shares of the energy company’s stock worth $354,000 after purchasing an additional 987 shares during the last quarter. Finally, Generali Investments Management Co LLC grew its holdings in shares of Devon Energy by 77.7% in the first quarter. Generali Investments Management Co LLC now owns 5,339 shares of the energy company’s stock worth $200,000 after purchasing an additional 2,334 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $34.56 on Friday. 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 firm has a market capitalization of $21.94 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.00 and a beta of 1.03. The business has a fifty day simple moving average of $34.44 and a two-hundred day simple moving average of $33.16. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. On average, equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DVN shares. Wolfe Research raised their target price on shares of Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Siebert Williams Shank lifted their price target on shares of Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Bernstein Bank cut their price target on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, July 7th. Jefferies Financial Group lifted their price target on shares of Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a report on Monday, July 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Devon Energy in a report on Saturday, September 27th. Sixteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $43.81.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was 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 of the company’s stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

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.