Devon Energy Corporation $DVN Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,348 shares of the energy company’s stock after selling 3,311 shares during the quarter. Ellis Investment Partners LLC’s holdings in Devon Energy were worth $1,443,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in DVN. Park Avenue Securities LLC boosted its holdings in shares of Devon Energy by 45.4% in the 1st quarter. Park Avenue Securities LLC now owns 14,604 shares of the energy company’s stock valued at $546,000 after purchasing an additional 4,562 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Devon Energy by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 19,428 shares of the energy company’s stock valued at $727,000 after purchasing an additional 7,648 shares during the last quarter. Focus Financial Network Inc. acquired a new position in shares of Devon Energy in the 1st quarter valued at $207,000. Fifth Third Bancorp boosted its holdings in shares of Devon Energy by 28.5% in the 1st quarter. Fifth Third Bancorp now owns 35,510 shares of the energy company’s stock valued at $1,328,000 after purchasing an additional 7,873 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of Devon Energy by 46.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company’s stock valued at $47,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DVN shares. Mizuho decreased their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Wolfe Research lifted their price target on shares of Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, June 23rd. Siebert Williams Shank lifted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the company a “sector perform” rating in a report on Friday. Finally, BMO Capital Markets lifted their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.81.

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 dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Devon Energy Trading Down 5.3%

Shares of DVN opened at $32.54 on Monday. The company has a market capitalization of $20.65 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.89 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. 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 stock has a 50-day moving average price of $34.53 and a 200 day moving average price of $33.05.

Devon Energy (NYSE:DVN) last issued 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 the consensus estimate of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.Devon Energy’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. Sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. The ex-dividend date of this dividend 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 is currently 21.52%.

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.