OMC Financial Services LTD Sells 1,150 Shares of Devon Energy Corporation $DVN

OMC Financial Services LTD lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,775 shares of the energy company’s stock after selling 1,150 shares during the period. OMC Financial Services LTD’s holdings in Devon Energy were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Devon Energy during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Devon Energy during the second quarter valued at approximately $25,000. Trust Co. of Vermont grew its position in Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares during the period. Finally, SouthState Corp grew its position in Devon Energy by 350.5% in the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after purchasing an additional 771 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DVN shares. Roth Capital started coverage on shares of Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 target price for the company. Siebert Williams Shank cut their price objective on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Susquehanna cut their price objective on shares of Devon Energy to $41.00 and set a “positive” rating for the company in a research report on Monday. Evercore ISI boosted their price objective on shares of Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research report on Monday, October 6th. Finally, Royal Bank Of Canada set a $42.00 price objective on shares of Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the sale, the director owned 31,801 shares in the company, valued at $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 is available through the SEC website. Company insiders own 0.73% of the company’s stock.

Devon Energy Stock Up 0.4%

DVN opened at $32.07 on Wednesday. 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 $40.54. The firm’s fifty day moving average is $34.48 and its 200 day moving average is $32.92. The stock has a market cap of $20.36 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company 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 company earned $1.41 EPS. Devon Energy’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. 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%.

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.