Lindenwold Advisors INC Acquires 473 Shares of Devon Energy Corporation $DVN

Lindenwold Advisors INC lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,780 shares of the energy company’s stock after purchasing an additional 473 shares during the period. Lindenwold Advisors INC’s holdings in Devon Energy were worth $852,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Devon Energy by 10.8% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company’s stock worth $10,210,000 after purchasing an additional 26,519 shares during the last quarter. Autumn Glory Partners LLC grew its holdings in shares of Devon Energy by 93.6% during the first quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company’s stock worth $1,547,000 after purchasing an additional 20,000 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Devon Energy during the first quarter worth $2,524,000. Praxis Investment Management Inc. grew its holdings in shares of Devon Energy by 41.8% during the first quarter. Praxis Investment Management Inc. now owns 47,000 shares of the energy company’s stock worth $1,758,000 after purchasing an additional 13,860 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Devon Energy by 38.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 847,759 shares of the energy company’s stock worth $31,850,000 after purchasing an additional 236,624 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $32.54 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $43.29. The stock has a market cap of $20.65 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. The stock’s 50-day moving average price is $34.53 and its two-hundred day moving average price is $33.10.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $1.41 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict 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 issued a dividend of $0.24 per share. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DVN. Royal Bank Of Canada set a $42.00 target price on Devon Energy and gave the stock a “sector perform” rating in a report on Friday. UBS Group raised their price target on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Devon Energy in a report on Wednesday. Barclays decreased their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.81.

Devon Energy 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.