Devon Energy Corporation $DVN Stock Holdings Decreased by Ellis Investment Partners LLC

Ellis Investment Partners LLC lowered its stake in Devon Energy Corporation (NYSE:DVNFree Report) by 6.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 45,348 shares of the energy company’s stock after selling 3,311 shares during the period. Ellis Investment Partners LLC’s holdings in Devon Energy were worth $1,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DVN. SVB Wealth LLC lifted its stake in shares of Devon Energy by 4.1% in the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after acquiring an additional 321 shares during the period. MAS Advisors LLC lifted its stake in shares of Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after acquiring an additional 327 shares during the period. Whittier Trust Co. lifted its stake in shares of Devon Energy by 24.3% in the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after acquiring an additional 377 shares during the period. Callan Family Office LLC lifted its stake in shares of Devon Energy by 3.7% in the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after acquiring an additional 377 shares during the period. Finally, Hager Investment Management Services LLC lifted its stake in shares of Devon Energy by 9.9% in the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock worth $158,000 after acquiring an additional 380 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on DVN shares. Piper Sandler reduced their price target on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. William Blair started coverage on shares of Devon Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Siebert Williams Shank boosted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Evercore ISI boosted their target price on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Devon Energy in a report on Wednesday, October 8th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.81.

View Our Latest Analysis on DVN

Devon Energy Stock Down 5.3%

DVN stock opened at $32.54 on Monday. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $43.29. The company’s 50 day simple moving average is $34.53 and its 200-day simple moving average is $33.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market capitalization of $20.65 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.89 and a beta of 1.03.

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

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued 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 dividend yield of 3.0%. Devon Energy’s payout ratio is currently 21.52%.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Devon Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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