Glenmede Trust Co. NA lifted its position in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 75.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,155 shares of the energy company’s stock after purchasing an additional 60,390 shares during the quarter. Glenmede Trust Co. NA’s holdings in Devon Energy were worth $7,053,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Tobam lifted its position in Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after purchasing an additional 230 shares during the period. TD Private Client Wealth LLC boosted its stake in Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after buying an additional 236 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after buying an additional 254 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in Devon Energy by 21.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after buying an additional 257 shares during the period. Finally, Zions Bancorporation National Association UT raised its stake in shares of Devon Energy by 7.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock valued at $129,000 after buying an additional 258 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.
Devon Energy Stock Down 1.2%
Shares of NYSE:DVN opened at $44.59 on Tuesday. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The company’s fifty day moving average is $43.58 and its 200-day moving average is $44.75. The company has a market capitalization of $27.71 billion, a PE ratio of 12.42 and a beta of 0.38.
Devon Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Devon Energy’s payout ratio is currently 35.65%.
Insiders Place Their Bets
In other news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on DVN. Wall Street Zen downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Sanford C. Bernstein upped their target price on shares of Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Truist Financial dropped their price target on shares of Devon Energy from $66.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. UBS Group cut their price target on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Citigroup lifted their price objective on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.
Devon Energy Company Profile
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
Featured Stories
- Five stocks we like better than Devon Energy
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.
