Devon Energy Corporation $DVN Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 9.9% in the second quarter, HoldingsChannel.com reports. The firm owned 162,112 shares of the energy company’s stock after selling 17,735 shares during the quarter. Guinness Asset Management LTD’s holdings in Devon Energy were worth $5,180,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. SVB Wealth LLC lifted its holdings in Devon Energy by 4.1% during the 1st 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 position in shares of Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after acquiring an additional 321 shares in the last quarter. MAS Advisors LLC lifted its stake in Devon Energy by 4.3% during the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after purchasing an additional 327 shares during the last quarter. Whittier Trust Co. boosted its holdings in 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 in the last quarter. Finally, Callan Family Office LLC increased its stake in 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. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Devon Energy Trading Down 1.4%

NYSE DVN opened at $32.97 on Monday. The firm’s fifty day moving average is $34.43 and its two-hundred day moving average is $33.04. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market cap of $20.93 billion, a PE ratio of 7.39, a P/E/G ratio of 2.55 and a beta of 1.03.

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

Devon Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. Mizuho decreased their price objective on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Tudor, Pickering, Holt & Co. raised their price objective on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Finally, The Goldman Sachs Group reduced their target price on Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus 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.