Wealth Management Associates Inc. Buys Shares of 7,800 Devon Energy Corporation $DVN

Wealth Management Associates Inc. bought a new stake in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,800 shares of the energy company’s stock, valued at approximately $248,000.

Several other large investors have also recently bought and sold shares of the company. SVB Wealth LLC increased its stake in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Devon Energy by 0.4% in the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. MAS Advisors LLC boosted its holdings in shares of Devon Energy by 4.3% in the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after buying an additional 327 shares during the period. Whittier Trust Co. boosted its holdings in shares of 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 buying an additional 377 shares during the period. Finally, Callan Family Office LLC boosted its holdings in shares of 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 buying an additional 377 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $32.03 on Wednesday. The stock has a market cap of $20.33 billion, a P/E ratio of 7.18, a P/E/G ratio of 2.55 and a beta of 1.03. 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 company has a fifty day moving average price of $34.39 and a two-hundred day moving average price of $33.09. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. As a group, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DVN. JPMorgan Chase & Co. upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company reduced their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Susquehanna reduced their target price on shares of Devon Energy to $41.00 and set a “positive” rating for the company in a report on Monday, October 20th. Piper Sandler reduced their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, Siebert Williams Shank reduced their target price on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. One equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the firm’s 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 sale, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

About Devon Energy

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.