OLD Point Trust & Financial Services N A Has $430,000 Holdings in Devon Energy Corporation $DVN

OLD Point Trust & Financial Services N A reduced its stake in shares of Devon Energy Corporation (NYSE:DVN) by 15.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,525 shares of the energy company’s stock after selling 2,550 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Devon Energy were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of DVN. Two Sigma Investments LP acquired a new position in Devon Energy during the 4th quarter valued at $256,000. Versant Capital Management Inc increased its holdings in Devon Energy by 128.9% in the 1st quarter. Versant Capital Management Inc now owns 2,635 shares of the energy company’s stock valued at $99,000 after buying an additional 1,484 shares during the period. GAMMA Investing LLC increased its holdings in Devon Energy by 6,068.1% in the 1st quarter. GAMMA Investing LLC now owns 726,607 shares of the energy company’s stock valued at $27,175,000 after buying an additional 714,827 shares during the period. Parallel Advisors LLC increased its holdings in Devon Energy by 34.5% in the 1st quarter. Parallel Advisors LLC now owns 18,405 shares of the energy company’s stock valued at $688,000 after buying an additional 4,718 shares during the period. Finally, Rhumbline Advisers increased its holdings in Devon Energy by 10.2% in the 1st quarter. Rhumbline Advisers now owns 1,253,112 shares of the energy company’s stock valued at $46,866,000 after buying an additional 115,835 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 1.2%

Shares of NYSE DVN opened at $35.11 on Wednesday. The firm’s 50-day simple moving average is $34.34 and its 200 day simple moving average is $33.17. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $43.29.

Devon Energy (NYSE:DVN) last issued its quarterly 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. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. On average, research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is presently 21.52%.

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Wolfe Research boosted their price target on shares of Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, June 23rd. Jefferies Financial Group boosted their price target on shares of Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a report on Monday, July 14th. BMO Capital Markets boosted their price target on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Barclays boosted their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Tudor, Pickering, Holt & Co. boosted their target price on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.81.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated 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 directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

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.