Aspiriant LLC Purchases Shares of 7,243 Devon Energy Corporation $DVN

Aspiriant LLC purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,243 shares of the energy company’s stock, valued at approximately $230,000.

Several other hedge funds have also bought and sold shares of the stock. Tweedy Browne Co LLC bought a new stake in Devon Energy during the second quarter valued at about $220,000. Private Trust Co. NA lifted its position in shares of Devon Energy by 35.0% in the second quarter. Private Trust Co. NA now owns 2,310 shares of the energy company’s stock valued at $73,000 after acquiring an additional 599 shares in the last quarter. Praxis Investment Management Inc. lifted its position in shares of Devon Energy by 7.2% in the second quarter. Praxis Investment Management Inc. now owns 50,390 shares of the energy company’s stock valued at $1,603,000 after acquiring an additional 3,390 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Devon Energy by 32.7% in the second quarter. Allianz Asset Management GmbH now owns 799,181 shares of the energy company’s stock valued at $25,422,000 after acquiring an additional 196,972 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of Devon Energy by 34.7% in the second quarter. Mutual Advisors LLC now owns 12,137 shares of the energy company’s stock valued at $400,000 after acquiring an additional 3,126 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DVN. UBS Group boosted their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Roth Capital began coverage on Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets boosted their price objective on Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Bernstein Bank lowered their price objective on Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 7th. Finally, The Goldman Sachs Group lowered their price objective on Devon Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.14.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $31.73 on Friday. The stock has a 50 day moving average of $34.52 and a 200 day moving average of $32.90. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $41.06. The firm has a market cap of $20.14 billion, a PE ratio of 7.12, a PEG ratio of 1.90 and a beta of 1.03. 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 announced its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.24 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy’s payout ratio is 21.52%.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred on Monday, August 11th. The stock was 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 approximately $1,064,061.46. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

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.