Venture Visionary Partners LLC Increases Stock Position in Devon Energy Corporation $DVN

Venture Visionary Partners LLC lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 36.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,096 shares of the energy company’s stock after buying an additional 3,998 shares during the quarter. Venture Visionary Partners LLC’s holdings in Devon Energy were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after buying an additional 2,098,568 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 12.9% during the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock valued at $430,805,000 after buying an additional 1,315,050 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after buying an additional 3,114,656 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Devon Energy by 5.1% during the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock valued at $245,987,000 after buying an additional 316,460 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 buying an additional 354,633 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $33.7550 on Thursday. 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 Corporation has a one year low of $25.89 and a one year high of $46.04. The company’s fifty day moving average price is $33.26 and its 200-day moving average price is $33.13. The firm has a market capitalization of $21.43 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.92 and a beta of 1.07.

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

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

Insider Activity at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The shares were 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 trade represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a report on Friday, July 11th. Barclays upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. UBS Group upped their target price on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler decreased their price target on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Fifteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.15.

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.