Devon Energy Corporation (NYSE:DVN – Get Free Report) EVP Jeffrey Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Devon Energy Trading Up 0.4%
NYSE:DVN opened at $46.93 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 1-year low of $30.24 and a 1-year high of $52.71. The firm has a market capitalization of $29.16 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.43. The stock has a fifty day simple moving average of $47.57 and a 200 day simple moving average of $41.22.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. Sell-side analysts forecast that Devon Energy Corporation will post 5.39 earnings per share for the current year.
Devon Energy Increases Dividend
Institutional Investors Weigh In On Devon Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $9,931,000. Allianz Asset Management GmbH grew its holdings in shares of Devon Energy by 4.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after purchasing an additional 33,974 shares in the last quarter. Investors Research Corp grew its holdings in shares of Devon Energy by 13,787.5% during the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after purchasing an additional 27,575 shares in the last quarter. Philip James Wealth Mangement LLC grew its holdings in shares of Devon Energy by 43.8% during the 4th quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock worth $5,911,000 after purchasing an additional 49,115 shares in the last quarter. Finally, Greatmark Investment Partners Inc. grew its holdings in shares of Devon Energy by 5.6% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after purchasing an additional 30,435 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on DVN. JPMorgan Chase & Co. decreased their price target on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Siebert Williams Shank increased their price target on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Argus increased their price target on Devon Energy from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Susquehanna increased their price objective on Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Finally, Truist Financial initiated coverage on Devon Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $63.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.
View Our Latest Research Report on DVN
About Devon Energy
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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