Axxcess Wealth Management LLC Has $264,000 Stock Holdings in Devon Energy Corporation $DVN

Axxcess Wealth Management LLC decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 22.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,306 shares of the energy company’s stock after selling 2,378 shares during the period. Axxcess Wealth Management LLC’s holdings in Devon Energy were worth $264,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SVB Wealth LLC raised its holdings in Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after buying an additional 321 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Devon Energy by 0.4% in the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares during the last quarter. MAS Advisors LLC raised its holdings in shares of Devon Energy by 4.3% in the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after purchasing an additional 327 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after purchasing an additional 377 shares during the last quarter. Finally, Callan Family Office LLC raised its holdings in shares of Devon Energy by 3.7% in the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN opened at $31.73 on Friday. The firm has a market cap of $20.14 billion, a P/E ratio of 7.12, a PEG ratio of 1.90 and a beta of 1.03. The firm has a 50-day moving average of $34.52 and a 200 day moving average of $32.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $41.06.

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

Devon Energy Dividend Announcement

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. William Blair assumed coverage on shares of Devon Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Bernstein Bank lowered their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 7th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday. Finally, Evercore ISI increased their target price on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Insiders Place Their Bets

In other Devon Energy 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 $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Devon Energy 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.