Devon Energy Corporation $DVN Shares Purchased by Private Trust Co. NA

Private Trust Co. NA increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 35.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,310 shares of the energy company’s stock after acquiring an additional 599 shares during the quarter. Private Trust Co. NA’s holdings in Devon Energy were worth $73,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Devon Energy by 38.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 847,759 shares of the energy company’s stock valued at $31,850,000 after acquiring an additional 236,624 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Devon Energy by 6.4% during the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after acquiring an additional 16,106 shares during the last quarter. Savvy Advisors Inc. acquired a new position in shares of Devon Energy during the 1st quarter valued at about $384,000. Greatmark Investment Partners Inc. boosted its position in shares of Devon Energy by 7.9% during the 1st quarter. Greatmark Investment Partners Inc. now owns 476,687 shares of the energy company’s stock valued at $17,828,000 after acquiring an additional 35,060 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Devon Energy during the 1st quarter valued at about $515,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 3.2%

Shares of NYSE:DVN opened at $33.44 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market capitalization of $21.23 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The firm’s 50-day moving average is $34.45 and its two-hundred day moving average is $32.95. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $4.28 billion for 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 business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. Analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 yield of 2.9%. Devon Energy’s dividend payout ratio is 21.52%.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, the director directly 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 is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DVN shares. Siebert Williams Shank lowered their price target on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Susquehanna decreased their target price on shares of Devon Energy to $41.00 and set a “positive” rating on the stock in a research report on Monday. Bernstein Bank decreased their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 7th. Morgan Stanley decreased their target price on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Finally, 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average price target of $43.14.

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.