FNY Investment Advisers LLC Buys New Shares in Devon Energy Corporation $DVN

FNY Investment Advisers 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 SEC. The institutional investor purchased 1,069 shares of the energy company’s stock, valued at approximately $34,000.

Several other institutional investors have also added to or reduced their stakes in DVN. Ameriprise Financial Inc. boosted its position in Devon Energy by 81.1% during the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after buying an additional 2,252,918 shares during the period. Vanguard Group Inc. boosted its position in Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after buying an additional 2,098,568 shares during the period. Nuveen LLC purchased a new stake in Devon Energy during the 1st quarter valued at $69,975,000. AQR Capital Management LLC boosted its position in Devon Energy by 100.0% during the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock valued at $132,051,000 after buying an additional 1,779,382 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new stake in Devon Energy during the 1st quarter valued at $63,561,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Piper Sandler dropped their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Devon Energy in a research report on Friday. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 target price (up from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Devon Energy Trading Down 1.4%

Shares of NYSE DVN opened at $32.97 on Friday. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54. The stock has a market cap of $20.93 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.03. The firm has a 50-day moving average of $34.43 and a 200 day moving average of $32.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

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, 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 during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $1.41 EPS. Devon Energy’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

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.