International Assets Investment Management LLC Buys 5,643 Shares of Devon Energy Corporation $DVN

International Assets Investment Management LLC lifted its stake in Devon Energy Corporation (NYSE:DVN) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,935 shares of the energy company’s stock after purchasing an additional 5,643 shares during the period. International Assets Investment Management LLC’s holdings in Devon Energy were worth $1,875,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in Devon Energy during the 2nd quarter valued at about $25,000. Financial Gravity Asset Management Inc. purchased a new position in Devon Energy during the 1st quarter valued at about $26,000. Banque Cantonale Vaudoise purchased a new position in Devon Energy during the 1st quarter valued at about $26,000. Trust Co. of Vermont increased its position in Devon Energy by 241.3% during the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the period. Finally, SouthState Corp increased its position in Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after purchasing an additional 771 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Devon Energy Stock Performance

DVN opened at $31.73 on Monday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $41.06. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $20.14 billion, a PE ratio of 7.12, a P/E/G ratio of 1.87 and a beta of 1.03. The firm has a 50 day moving average of $34.52 and a two-hundred day moving average of $32.90.

Devon Energy (NYSE:DVN) last posted its quarterly 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. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. Devon Energy’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. On average, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business 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. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s payout ratio is presently 21.52%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. 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 research report on Friday, October 10th. Barclays cut their target price on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Tudor, Pickering, Holt & Co. raised their price target on shares of Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. William Blair began coverage on shares of Devon Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Roth Capital began coverage on shares of Devon Energy in a report on Monday, October 13th. They issued a “buy” rating and a $42.00 price target on the stock. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

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.