Devon Energy Corporation $DVN Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in Devon Energy Corporation (NYSE:DVN) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,315 shares of the energy company’s stock after purchasing an additional 357 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Devon Energy were worth $6,934,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $25,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $26,000. Trust Co. of Vermont grew its stake in shares of 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 last quarter. Finally, SouthState Corp grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Devon Energy Stock Down 1.4%

DVN opened at $32.97 on Friday. The firm’s 50-day simple moving average is $34.43 and its 200-day simple moving average is $32.99. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.59 and a beta of 1.03. 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 twelve month low of $25.89 and a twelve month high of $40.54.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) 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 the consensus estimate of $4.01 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio is 21.52%.

Analysts Set New Price Targets

DVN has been the topic of several analyst reports. Morgan Stanley dropped 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. Roth Capital initiated 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. Wells Fargo & Company dropped their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Tudor, Pickering, Holt & Co. lifted their target price on shares of Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Finally, Piper Sandler dropped their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. 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 company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price 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.