Corient Private Wealth LLC lifted its position in Devon Energy Corporation (NYSE:DVN – Free Report) by 12.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,073 shares of the energy company’s stock after acquiring an additional 13,124 shares during the period. Corient Private Wealth LLC’s holdings in Devon Energy were worth $4,253,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC lifted its position in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares in the last quarter. Ameriflex Group Inc. boosted its stake in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after purchasing an additional 702 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Devon Energy during the 4th quarter valued at $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Devon Energy Trading Down 1.0%
Shares of DVN stock opened at $42.18 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a fifty day simple moving average of $45.99 and a two-hundred day simple moving average of $43.49. The firm has a market capitalization of $26.21 billion, a PE ratio of 11.75 and a beta of 0.37. Devon Energy Corporation has a 52-week low of $31.45 and a 52-week high of $52.71.
Devon Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s payout ratio is presently 35.65%.
Analyst Ratings Changes
Several research analysts have recently weighed in on DVN shares. Scotiabank boosted their price target on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their price objective on Devon Energy from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Royal Bank Of Canada boosted their target price on Devon Energy from $46.00 to $59.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. UBS Group lowered their target price on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, June 10th. Finally, Citigroup raised their price target on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.96.
View Our Latest Stock Report on Devon Energy
Devon Energy News Summary
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Goldman Sachs upgraded Devon Energy to strong-buy, which can boost sentiment by signaling greater confidence in the company’s outlook. Zacks.com
- Positive Sentiment: Analyst and investor coverage continues to point to Devon as an attractive E&P name, with commentary noting cheaper valuation, a higher yield, and stronger return on equity than Diamondback Energy. Devon or Diamondback: Which E&P Stock Is the Better Investment?
- Positive Sentiment: Wall Street coverage has highlighted bullish hedge fund positioning and meaningful upside potential, reinforcing the view that DVN remains a value-and-income play for investors. What Does Wall Street Say About Devon Energy (DVN)?
- Neutral Sentiment: Devon has been among the more searched stocks on Zacks, which suggests rising investor attention but does not by itself change fundamentals. Investors Heavily Search Devon Energy Corporation (DVN): Here is What You Need to Know
- Neutral Sentiment: Devon completed a note exchange that simplifies its capital structure, a generally positive balance-sheet move, though the immediate stock impact is likely limited. Devon Energy Simplifies Capital Structure With Note Exchange
- Negative Sentiment: Toms Capital taking a top-five stake adds activist pressure for operational improvements and potential asset sales, increasing uncertainty around Devon’s post-merger strategy and capital allocation. Devon Energy (DVN) Faces Fresh Activist Pressure As Toms Capital Takes Top Five Stake
Insider Buying and Selling
In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 112,371 shares of company stock valued at $5,258,059. Corporate insiders own 4.58% of the company’s stock.
Devon Energy Profile
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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