Devon Energy Corporation $DVN Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 185.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,754 shares of the energy company’s stock after purchasing an additional 145,266 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Devon Energy were worth $7,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Allspring Global Investments Holdings LLC lifted its holdings in Devon Energy by 38.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 847,759 shares of the energy company’s stock valued at $31,850,000 after acquiring an additional 236,624 shares during the period. TD Asset Management Inc lifted its holdings in Devon Energy by 6.4% in the second quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after acquiring an additional 16,106 shares during the period. Savvy Advisors Inc. acquired a new position in Devon Energy in the first quarter valued at approximately $384,000. Greatmark Investment Partners Inc. lifted its holdings in Devon Energy by 7.9% in the first quarter. Greatmark Investment Partners Inc. now owns 476,687 shares of the energy company’s stock valued at $17,828,000 after acquiring an additional 35,060 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Devon Energy in the first quarter valued at approximately $515,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN opened at $32.95 on Tuesday. The stock’s 50-day moving average price is $34.42 and its 200 day moving average price is $33.06. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $40.54. 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 cap of $20.91 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.55 and a beta of 1.03.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) 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 firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company earned $1.41 EPS. Devon Energy’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.9%. Devon Energy’s dividend payout ratio is presently 21.52%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Roth Capital initiated coverage on Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 price objective for the company. Susquehanna cut their price objective on Devon Energy to $41.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Royal Bank Of Canada set a $42.00 price objective on Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Raymond James Financial restated an “outperform” rating and issued a $45.00 price objective (up from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. One equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the 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 of the company’s stock, valued at approximately $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 accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

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.