Resonant Capital Advisors LLC Buys 4,088 Shares of Devon Energy Corporation $DVN

Resonant Capital Advisors LLC increased its stake in Devon Energy Corporation (NYSE:DVN) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,287 shares of the energy company’s stock after buying an additional 4,088 shares during the period. Resonant Capital Advisors LLC’s holdings in Devon Energy were worth $1,950,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares during the period. Victory Capital Management Inc. grew its stake in Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock worth $430,805,000 after purchasing an additional 1,315,050 shares in the last quarter. Northern Trust Corp increased its holdings in Devon Energy by 5.1% during the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after purchasing an additional 316,460 shares during the period. Ameriprise Financial Inc. increased its holdings in Devon Energy by 81.1% during the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after purchasing an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Devon Energy by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after purchasing an additional 354,633 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 1.4%

Shares of NYSE:DVN opened at $32.97 on Friday. The business’s 50-day moving average is $34.43 and its 200 day moving average is $33.03. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54. The firm has a market capitalization of $20.93 billion, a P/E ratio of 7.39, a P/E/G ratio of 2.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 dividend yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DVN. Roth Capital began coverage on Devon Energy in a research note on Monday, October 13th. They set a “buy” rating and a $42.00 price target on the stock. Mizuho dropped their target price 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. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Tudor, Pickering, Holt & Co. upped their price target on shares of Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Finally, Jefferies Financial Group upped their target price on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Buying and Selling at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

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.